JPMorgan Chase & Co. Upgrades Persimmon (LON:PSN) to “Outperform”

Persimmon (LON:PSN) was upgraded by equities research analysts at JPMorgan Chase & Co. to an “outperform” rating in a research report issued to clients and investors on Tuesday,London Stock Exchange reports. The firm presently has a GBX 1,750 target price on the stock, up from their prior target price of GBX 1,375. JPMorgan Chase & Co.‘s price objective points to a potential upside of 30.60% from the stock’s previous close.

Other analysts have also issued research reports about the company. Jefferies Financial Group cut their price target on Persimmon from GBX 1,801 to GBX 1,790 and set a “buy” rating for the company in a report on Tuesday, October 7th. Berenberg Bank reaffirmed a “hold” rating and set a GBX 1,300 price objective on shares of Persimmon in a research report on Tuesday, September 9th. The Goldman Sachs Group initiated coverage on shares of Persimmon in a report on Monday, November 24th. They issued a “buy” rating and a GBX 1,446 target price for the company. Peel Hunt reaffirmed a “buy” rating and set a GBX 1,330 price target on shares of Persimmon in a report on Thursday, November 13th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 1,375 price target on shares of Persimmon in a research report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Persimmon has a consensus rating of “Moderate Buy” and an average price target of GBX 1,503.

Persimmon Stock Performance

Shares of PSN stock traded up GBX 10 during mid-day trading on Tuesday, reaching GBX 1,340. 2,119,198 shares of the company’s stock traded hands, compared to its average volume of 4,964,537. The company has a debt-to-equity ratio of 4.91, a quick ratio of 1.04 and a current ratio of 4.09. The firm has a market capitalization of £4.29 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. Persimmon has a 12 month low of GBX 1,030.50 and a 12 month high of GBX 1,418. The firm has a 50 day moving average price of GBX 1,208.67 and a two-hundred day moving average price of GBX 1,209.58.

Insiders Place Their Bets

In other Persimmon news, insider Andrew Duxbury sold 7,132 shares of the stock in a transaction that occurred 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 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.