JPMorgan Chase & Co. Cuts Persimmon (LON:PSN) Price Target to GBX 1,430

Persimmon (LON:PSN) had its target price reduced by analysts at JPMorgan Chase & Co. from GBX 1,800 to GBX 1,430 in a report issued on Tuesday,Digital Look reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 32.71% from the stock’s previous close.

PSN has been the subject of a number of other reports. Berenberg Bank reissued a “hold” rating and set a GBX 1,300 target price on shares of Persimmon in a research note on Wednesday, March 11th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,591 price objective on shares of Persimmon in a report on Thursday, April 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 1,750 price objective on shares of Persimmon in a report on Wednesday, March 11th. Panmure Gordon reiterated a “buy” rating and issued a GBX 1,694 price objective on shares of Persimmon in a report on Friday, May 1st. Finally, Bank of America decreased their target price on shares of Persimmon from GBX 1,600 to GBX 1,300 and set a “buy” rating for the company in a research note 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,487.50.

Persimmon Trading Up 2.4%

Shares of LON:PSN traded up GBX 25 during mid-day trading on Tuesday, reaching GBX 1,077.50. The stock had a trading volume of 1,881,742 shares, compared to its average volume of 12,353,835. The firm has a 50 day simple moving average of GBX 1,092.75 and a two-hundred day simple moving average of GBX 1,257.44. Persimmon has a twelve month low of GBX 1,012 and a twelve month high of GBX 1,552. The company has a current ratio of 3.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The firm has a market cap of £3.46 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.40.

Insider Buying and Selling at Persimmon

In related news, insider Dean K. Finch sold 60,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of GBX 1,119, for a total value of £671,400. Corporate 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.