Persimmon (LON:PSN) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Persimmon Plc (LON:PSN) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 1,121.94 and traded as high as GBX 1,170. Persimmon shares last traded at GBX 1,162, with a volume of 1,972,753 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Persimmon from GBX 1,419 to GBX 1,403 and set a “buy” rating for the company in a research report on Friday, August 7th. Jefferies Financial Group decreased their price target on Persimmon from GBX 1,591 to GBX 1,590 and set a “buy” rating for the company in a research note on Wednesday, August 12th. Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 1,350 price objective on shares of Persimmon in a report on Friday, August 7th. Citigroup cut their price objective on Persimmon from £161.50 to £128 and set a “buy” rating on the stock in a research note on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Persimmon from GBX 1,800 to GBX 1,430 and set an “overweight” rating on the stock in a report on Tuesday, June 16th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,564.30.

Persimmon Price Performance

The company has a debt-to-equity ratio of 8.08, a current ratio of 4.21 and a quick ratio of 1.04. The company has a fifty day moving average price of GBX 1,129.42 and a 200 day moving average price of GBX 1,119.59. The company has a market capitalization of £3.70 billion, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.40.

Persimmon (LON:PSN) last announced its quarterly earnings results on Thursday, August 6th. The company reported GBX 38 EPS for the quarter. Persimmon had a net margin of 7.68% and a return on equity of 8.45%. On average, sell-side analysts forecast that Persimmon Plc will post 98.2810615 EPS for the current fiscal year.

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.