Jefferies Financial Group Issues Pessimistic Forecast for Persimmon (LON:PSN) Stock Price

Persimmon (LON:PSN) had its price objective cut by Jefferies Financial Group from GBX 1,591 to GBX 1,590 in a research note issued on Wednesday,London Stock Exchange reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 33.50% from the stock’s previous close.

A number of other equities analysts also recently issued reports on PSN. Deutsche Bank Aktiengesellschaft cut their target price on Persimmon from GBX 1,419 to GBX 1,403 and set a “buy” rating for the company in a research note on Friday, August 7th. Panmure Gordon restated a “buy” rating and issued a GBX 1,694 price target on shares of Persimmon in a research note on Friday, May 1st. JPMorgan Chase & Co. cut their price objective on Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating for the company in a research report on Tuesday, June 16th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 1,350 target price on shares of Persimmon in a research report on Friday, August 7th. Finally, Citigroup lowered their price target on shares of Persimmon from £161.50 to £128 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 2,564.30.

Persimmon Stock Up 2.4%

Shares of Persimmon stock opened at GBX 1,191 on Wednesday. Persimmon has a one year low of GBX 947.40 and a one year high of GBX 1,552. The company has a market cap of £3.82 billion, a P/E ratio of 13.50, a PEG ratio of 0.83 and a beta of 1.40. The company has a debt-to-equity ratio of 8.08, a quick ratio of 1.04 and a current ratio of 4.21. The firm has a fifty day moving average of GBX 1,079.15 and a two-hundred day moving average of GBX 1,181.20.

Persimmon (LON:PSN) last announced its quarterly earnings data on Thursday, August 6th. The company reported GBX 38 EPS for the quarter. Persimmon had a net margin of 7.68% and a return on equity of 8.45%. On average, analysts forecast that Persimmon will post 98.2810615 earnings per share for the current year.

Insider Activity at Persimmon

In other news, insider Dean K. Finch sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of GBX 1,119, for a total transaction of £671,400. 2.63% of the stock is owned by company 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.