Persimmon (LON:PSN) Reaches New 52-Week Low – Here’s What Happened

Shares of Persimmon Plc (LON:PSN) reached a new 52-week low on Monday . The company traded as low as GBX 1,011.50 and last traded at GBX 1,013.50, with a volume of 67098977 shares trading hands. The stock had previously closed at GBX 1,031.50.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America dropped their target price on Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating on the stock in a report on Monday, March 30th. Royal Bank Of Canada restated an “outperform” rating and set a GBX 1,750 price target on shares of Persimmon in a report on Wednesday, March 11th. Citigroup lowered their price target on Persimmon from £161.50 to £128 and set a “buy” rating for the company in a research report on Tuesday. Jefferies Financial Group reissued a “buy” rating and set a GBX 1,591 price objective on shares of Persimmon in a research report on Thursday, April 30th. Finally, Panmure Gordon restated a “buy” rating and set a GBX 1,694 price objective on shares of Persimmon in a research note on Friday, May 1st. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of GBX 2,606.

Persimmon Price Performance

The firm has a 50-day moving average of GBX 1,084.47 and a 200-day moving average of GBX 1,245.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.04 and a current ratio of 3.99. The firm has a market capitalization of £3.39 billion, a P/E ratio of 11.96, a PEG ratio of 0.83 and a beta of 1.40.

Insider Buying and Selling at Persimmon

In other news, insider Dean K. Finch sold 60,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of GBX 1,119, for a total transaction of £671,400. 2.63% of the stock is owned by corporate 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.