Persimmon (LON:PSN) Shares Pass Below 200-Day Moving Average – Should You Sell?

Shares of Persimmon Plc (LON:PSN) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,274.63 and traded as low as GBX 1,099.50. Persimmon shares last traded at GBX 1,106, with a volume of 1,391,108 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on PSN. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 1,750 price objective on shares of Persimmon in a research report on Wednesday, March 11th. Bank of America cut their price objective on shares of Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating on the stock in a research report on Monday, March 30th. Jefferies Financial Group restated a “buy” rating and issued a GBX 1,591 price target on shares of Persimmon in a report on Thursday, April 30th. Panmure Gordon restated a “buy” rating and issued a GBX 1,694 price target on shares of Persimmon in a report on Friday, May 1st. Finally, Berenberg Bank restated a “hold” rating and issued a GBX 1,300 price target on shares of Persimmon in a report on Wednesday, March 11th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Persimmon presently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,524.50.

Persimmon Trading Up 1.7%

The stock’s fifty day moving average price is GBX 1,108.57 and its 200 day moving average price is GBX 1,274.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.99 and a quick ratio of 1.04. The stock has a market capitalization of £3.61 billion, a P/E ratio of 12.76, a PEG ratio of 0.83 and a beta of 1.39.

Persimmon (LON:PSN) last posted its quarterly earnings results on Tuesday, March 10th. The company reported GBX 100.70 EPS for the quarter. Persimmon had a net margin of 7.62% and a return on equity of 8.05%. Research analysts forecast that Persimmon Plc will post 98.2810615 earnings per share for the current year.

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. Further, it offers concrete bricks and roof tile. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.