Bank of America Cuts Persimmon (LON:PSN) Price Target to GBX 1,300

Persimmon (LON:PSN) had its price target reduced by Bank of America from GBX 1,600 to GBX 1,300 in a research report report published on Monday morning,London Stock Exchange reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Berenberg Bank reissued a “hold” rating and set a GBX 1,300 target price on shares of Persimmon in a research note on Wednesday, March 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 1,750 price target on shares of Persimmon in a research note on Wednesday, March 11th. Citigroup increased their price objective on Persimmon from GBX 1,613 to GBX 1,615 and gave the stock a “buy” rating in a report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price objective on Persimmon from GBX 1,520 to GBX 1,800 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded Persimmon to a “hold” rating and set a GBX 1,419 target price on the stock. in a research note on Thursday, January 15th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,528.

Persimmon Price Performance

Shares of PSN opened at GBX 1,078 on Monday. The business’s 50-day moving average is GBX 1,349.94 and its 200-day moving average is GBX 1,290.68. 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 company has a market capitalization of £3.46 billion, a price-to-earnings ratio of 13.59, a P/E/G ratio of 0.83 and a beta of 1.32. Persimmon has a fifty-two week low of GBX 1,030.50 and a fifty-two week high of GBX 1,552.

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%. Equities research analysts expect that Persimmon will post 98.2810615 EPS for the current fiscal year.

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.