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

Persimmon (LON:PSN) was upgraded by investment analysts at JPMorgan Chase & Co. to an “overweight” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage currently has a GBX 1,510 ($19.11) price target on the stock, up from their previous price target of GBX 1,190 ($15.06). JPMorgan Chase & Co.‘s target price indicates a potential upside of 17.78% from the stock’s previous close.

Persimmon Stock Up 1.3 %

PSN opened at GBX 1,282 ($16.23) on Friday. The business’s fifty day simple moving average is GBX 1,346.64 and its 200 day simple moving average is GBX 1,280.66. Persimmon has a 52 week low of GBX 925 ($11.71) and a 52 week high of GBX 1,501 ($19.00). The company has a quick ratio of 1.04, a current ratio of 4.54 and a debt-to-equity ratio of 0.38. The stock has a market cap of £4.09 billion, a PE ratio of 1,602.50, a P/E/G ratio of -1.74 and a beta of 1.36.

Insiders Place Their Bets

In other Persimmon news, insider Dean K. Finch purchased 7,621 shares of Persimmon stock in a transaction on Tuesday, March 12th. The shares were acquired at an average cost of GBX 1,315 ($16.64) per share, for a total transaction of £100,216.15 ($126,839.83). 3.46% of the stock is owned by 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.