Persimmon (LON:PSN) Coverage Initiated by Analysts at The Goldman Sachs Group

Analysts at The Goldman Sachs Group initiated coverage on shares of Persimmon (LON:PSN) in a research note issued on Monday, MarketBeat reports. The brokerage set a “buy” rating and a GBX 1,446 price target on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 13.01% from the company’s previous close.

A number of other equities analysts have also 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 reaffirmed a “hold” rating and issued a GBX 1,300 target price on shares of Persimmon in a research report on Tuesday, September 9th. Citigroup lowered their price target on Persimmon from GBX 1,573 to GBX 1,530 and set a “buy” rating on the stock in a report on Thursday, August 14th. Jefferies Financial Group dropped their price target on 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. Finally, Peel Hunt restated a “buy” rating and set a GBX 1,330 price objective on shares of Persimmon in a research report on Thursday, November 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 1,470.14.

Persimmon Stock Performance

Shares of PSN opened at GBX 1,279.50 on Monday. The company has a 50-day moving average of GBX 1,183.21 and a two-hundred day moving average of GBX 1,211.16. The stock has a market cap of £4.10 billion, a price-to-earnings ratio of 16.13, 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.

Insiders Place Their Bets

In other Persimmon news, insider Andrew Duxbury sold 7,132 shares of Persimmon stock in a transaction on Monday, September 29th. The shares were sold at an average price of GBX 1,133, for a total transaction of £80,805.56. 2.63% of the stock is owned by corporate insiders.

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.