Persimmon (LON:PSN) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Persimmon Plc (LON:PSN) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 1,209.58 and traded as high as GBX 1,335.50. Persimmon shares last traded at GBX 1,330.50, with a volume of 184,669,938 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Peel Hunt reaffirmed a “buy” rating and issued a GBX 1,330 target price on shares of Persimmon in a research report on Thursday, November 13th. Royal Bank Of Canada restated a “sector perform” rating and issued a GBX 1,375 price objective on shares of Persimmon in a report on Wednesday, August 13th. The Goldman Sachs Group started coverage on shares of Persimmon in a report on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 target price for the company. Berenberg Bank reissued a “hold” rating and issued a GBX 1,300 target price on shares of Persimmon in a research report on Tuesday, September 9th. Finally, Citigroup decreased their price target on Persimmon from GBX 1,573 to GBX 1,530 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 1,470.14.

Persimmon Stock Up 1.3%

The business’s fifty day moving average is GBX 1,208.67 and its two-hundred day moving average is GBX 1,209.58. The stock has a market cap of £4.32 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.83 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 4.09 and a debt-to-equity ratio of 4.91.

Insider Activity at Persimmon

In other news, insider Andrew Duxbury sold 7,132 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of GBX 1,133, for a total transaction of £80,805.56. 2.63% of the stock is currently owned by company insiders.

Persimmon Company Profile

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.