Citigroup Lowers Persimmon (LON:PSN) Price Target to £128

Persimmon (LON:PSN) had its price target dropped by analysts at Citigroup from £161.50 to £128 in a report issued on Tuesday,Digital Look reports. The firm currently has a “buy” rating on the stock.

PSN has been the subject of a number of other reports. Panmure Gordon reissued a “buy” rating and issued a GBX 1,694 price target on shares of Persimmon in a research report on Friday, May 1st. JPMorgan Chase & Co. reduced their target price on Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating for the company in a report on Tuesday, June 16th. Berenberg Bank restated a “hold” rating and set a GBX 1,300 price target on shares of Persimmon in a research note on Wednesday, March 11th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,591 price objective on shares of Persimmon in a research note on Thursday, April 30th. Finally, Bank of America decreased their price objective on Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating for the company in a report on Monday, March 30th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of GBX 2,606.

Persimmon Stock Down 0.9%

PSN stock traded down GBX 10 during midday trading on Tuesday, reaching GBX 1,043. 6,608,863 shares of the company were exchanged, compared to its average volume of 12,028,447. The company has a market cap of £3.35 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 0.83 and a beta of 1.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 3.99. Persimmon has a 1-year low of GBX 1,011.50 and a 1-year high of GBX 1,552. The stock’s 50-day simple moving average is GBX 1,086.93 and its 200 day simple moving average is GBX 1,248.16.

Insider Buying and Selling at Persimmon

In related news, insider Dean K. Finch sold 60,000 shares of Persimmon stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of GBX 1,119, for a total value of £671,400. 2.63% of the stock is currently owned by corporate insiders.

About Persimmon

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4. Further, it offers concrete bricks and roof tile. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.