Persimmon (LON:PSN) Hits New 52-Week High – Here’s Why

Persimmon Plc (LON:PSN)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 1,459 and last traded at GBX 1,456, with a volume of 1732897 shares changing hands. The stock had previously closed at GBX 1,449.50.

Analyst Upgrades and Downgrades

PSN has been the topic of a number of recent analyst reports. Peel Hunt reiterated a “buy” rating and issued a GBX 1,330 price objective on shares of Persimmon in a research report on Thursday, November 13th. The Goldman Sachs Group began 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. Citigroup lifted their price target on shares of Persimmon from GBX 1,613 to GBX 1,615 and gave the company a “buy” rating in a report on Wednesday, January 14th. Jefferies Financial Group upped their price objective on shares of Persimmon from GBX 1,815 to GBX 1,819 and gave the stock a “buy” rating in a report on Monday, January 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Persimmon from GBX 1,520 to GBX 1,800 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 1,513.

Persimmon Trading Down 0.1%

The stock’s fifty day moving average price is GBX 1,349.63 and its 200 day moving average price is GBX 1,223.55. The stock has a market cap of £4.64 billion, a P/E ratio of 18.26, a PEG ratio of 0.83 and a beta of 1.37. The company has a current ratio of 4.09, a quick ratio of 1.04 and a debt-to-equity ratio of 4.91.

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.