JPMorgan Chase & Co. Upgrades Persimmon (LON:PSN) to “Outperform”

Persimmon (LON:PSN) was upgraded by equities research analysts at JPMorgan Chase & Co. to an “outperform” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a GBX 1,750 target price on the stock, up from their previous target price of GBX 1,375. JPMorgan Chase & Co.‘s price target suggests a potential upside of 30.60% from the company’s current price.

Several other research firms also recently commented on PSN. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a GBX 1,375 price objective on shares of Persimmon in a research note on Wednesday, August 13th. Berenberg Bank restated a “hold” rating and set a GBX 1,300 target price on shares of Persimmon in a research note on Tuesday, September 9th. Peel Hunt reaffirmed a “buy” rating and set a GBX 1,330 price target on shares of Persimmon in a report on Thursday, November 13th. The Goldman Sachs Group initiated coverage on shares of Persimmon in a research note on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 price objective for the company. Finally, Citigroup lowered their target price on shares of 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Persimmon has an average rating of “Moderate Buy” and an average price target of GBX 1,503.

Persimmon Stock Performance

Shares of PSN opened at GBX 1,340 on Tuesday. The firm has a market capitalization of £4.29 billion, a P/E ratio of 16.90, a PEG ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 4.91, a current ratio of 4.09 and a quick ratio of 1.04. Persimmon has a one year low of GBX 1,030.50 and a one year high of GBX 1,418. The business has a fifty day moving average of GBX 1,217.51 and a 200 day moving average of GBX 1,210.29.

Insider Activity at Persimmon

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

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.