Persimmon (LON:PSN) Shares Pass Above 200-Day Moving Average – Here’s Why

Persimmon Plc (LON:PSN) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,208.99 and traded as high as GBX 1,363. Persimmon shares last traded at GBX 1,358.50, with a volume of 201,219 shares changing hands.

Analyst Ratings Changes

PSN has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Persimmon from GBX 1,520 to GBX 1,800 and gave the stock an “overweight” rating in a research report on Thursday, December 4th. The Goldman Sachs Group initiated coverage on Persimmon in a research note on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 price target for the company. Jefferies Financial Group reduced their price objective on shares of Persimmon from GBX 1,801 to GBX 1,790 and set a “buy” rating on the stock in a research report on Tuesday, October 7th. Berenberg Bank restated a “hold” rating and issued a GBX 1,300 price objective on shares of Persimmon in a report on Tuesday, September 9th. Finally, Peel Hunt reaffirmed a “buy” rating and set a GBX 1,330 target price on shares of Persimmon in a research note on Thursday, November 13th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,510.14.

Persimmon Stock Performance

The company has a market capitalization of £4.35 billion, a PE ratio of 17.13, a PEG ratio of 0.83 and a beta of 1.37. The company has a 50 day moving average of GBX 1,284.77 and a two-hundred day moving average of GBX 1,208.99. The company has a debt-to-equity ratio of 4.91, a current ratio of 4.09 and a quick ratio of 1.04.

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.