Citigroup Issues Pessimistic Forecast for Persimmon (LON:PSN) Stock Price

Persimmon (LON:PSN) had its price target cut by equities research analysts at Citigroup from £161.50 to £128 in a report released on Tuesday,Digital Look reports. The brokerage currently has a “buy” rating on the stock.

Other equities research analysts also recently issued reports about the stock. Panmure Gordon reaffirmed a “buy” rating and set a GBX 1,694 target price on shares of Persimmon in a research note on Friday, May 1st. Berenberg Bank restated a “hold” rating and issued a GBX 1,300 price target on shares of Persimmon in a research note on Wednesday, March 11th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 1,591 price objective on shares of Persimmon in a research report on Thursday, April 30th. JPMorgan Chase & Co. decreased their target price on Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating for the company in a report on Tuesday, June 16th. Finally, Bank of America decreased their target price on Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating for the company in a report on Monday, March 30th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Persimmon presently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,606.

Persimmon Trading Down 0.9%

Persimmon stock traded down GBX 10 during midday trading on Tuesday, reaching GBX 1,043. 6,608,863 shares of the stock traded hands, compared to its average volume of 12,028,447. The company has a current ratio of 3.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a market cap of £3.35 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.83 and a beta of 1.40. The company has a 50-day simple moving average of GBX 1,086.93 and a two-hundred day simple moving average of GBX 1,248.16. Persimmon has a 12-month low of GBX 1,011.50 and a 12-month high of GBX 1,552.

Insider Buying and Selling

In other Persimmon news, insider Dean K. Finch sold 60,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of GBX 1,119, for a total value of £671,400. 2.63% of the stock is owned by company 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. Further, it offers concrete bricks and roof tile. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.