Persimmon (LON:PSN) Sets New 52-Week High – Still a Buy?

Shares of Persimmon Plc (LON:PSN) reached a new 52-week high on Monday. The stock traded as high as GBX 2,984 and last traded at GBX 1,289, with a volume of 1,987,368 shares traded. The stock had previously closed at GBX 1,305.

Analyst Ratings Changes

A number of brokerages recently weighed in on PSN. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 1,590 target price on shares of Persimmon in a research note on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft cut their price target on shares of Persimmon from GBX 1,419 to GBX 1,403 and set a “buy” rating for the company in a research note on Friday, August 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a GBX 1,350 price target on shares of Persimmon in a report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 2,564.30.

Persimmon Stock Down 1.2%

The company has a market cap of £4.14 billion, a PE ratio of 13.68, a PEG ratio of 0.83 and a beta of 1.38. The stock’s 50 day moving average price is GBX 1,215.01 and its 200-day moving average price is GBX 1,190.71. The company has a debt-to-equity ratio of 8.08, a quick ratio of 1.04 and a current ratio of 4.21.

Persimmon (LON:PSN) last released its 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, analysts predict that Persimmon Plc will post 98.28 earnings per share for the current year.

Insiders Place Their Bets

In other Persimmon news, insider Andrew Duxbury sold 26,105 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of GBX 1,320, for a total transaction of £344,586. 2.62% of the stock is owned by corporate 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. Further, it offers concrete bricks and roof tile. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.