Persimmon (LON:PSN) Stock Crosses Below 200 Day Moving Average – Here’s Why

Persimmon Plc (LON:PSN) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,216.67 and traded as low as GBX 1,060. Persimmon shares last traded at GBX 1,093, with a volume of 1,843,459 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup cut their price objective on Persimmon from £161.50 to £128 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Panmure Gordon reiterated a “buy” rating and set a GBX 1,694 target price on shares of Persimmon in a research report on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,591 price target on shares of Persimmon in a research report on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of 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 cut their price target 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Persimmon presently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,606.

Persimmon Stock Performance

The stock has a market capitalization of £3.49 billion, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.83 and a beta of 1.39. The stock’s 50 day moving average is GBX 1,066.79 and its two-hundred day moving average is GBX 1,214.95. The company has a current ratio of 3.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46.

Insider Transactions at Persimmon

In other news, insider Dean K. Finch sold 60,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of GBX 1,119, for a total value of £671,400. Company insiders own 2.63% of the company’s stock.

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.