Persimmon (OTCMKTS:PSMMY) Shares Gap Up – Time to Buy?

Persimmon Plc (OTCMKTS:PSMMY) shares gapped up before the market opened on Wednesday. The stock had previously closed at $32.13, but opened at $33.08. Persimmon shares last traded at $33.08, with a volume of 112 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Zacks Research raised Persimmon from a “strong sell” rating to a “hold” rating in a research note on Friday, August 14th. UBS Group assumed coverage on shares of Persimmon in a research report on Wednesday, September 9th. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Persimmon from a “hold” rating to a “buy” rating in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Persimmon presently has a consensus rating of “Moderate Buy”.

Persimmon Price Performance

The firm’s 50 day moving average is $31.67 and its 200-day moving average is $30.00. The company has a quick ratio of 0.34, a current ratio of 4.21 and a debt-to-equity ratio of 0.07.

About Persimmon

Persimmon plc is a United Kingdom-based housebuilding company that develops, constructs and sells residential properties. Its portfolio includes homes designed for first-time buyers, families and other owner-occupiers, ranging from apartments and smaller houses to larger family properties.

The company operates through several established brands, including Persimmon Homes, Charles Church and Westbury Partnerships. In addition to private-market housing, its activities include working with housing associations and other partners to provide affordable and social housing.