Persimmon (OTCMKTS:PSMMY) Shares Gap Up – Should You Buy?

Persimmon Plc (OTCMKTS:PSMMY) gapped up before the market opened on Wednesday . The stock had previously closed at $27.18, but opened at $28.22. Persimmon shares last traded at $28.64, with a volume of 16,866 shares trading hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Zacks Research downgraded Persimmon from a “hold” rating to a “strong sell” rating in a research note on Thursday, June 18th. Morgan Stanley reissued an “overweight” rating on shares of Persimmon in a report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Persimmon Stock Up 5.5%

The firm’s fifty day moving average is $29.12 and its 200 day moving average is $33.49.

Persimmon Company Profile

Persimmon plc (OTCMKTS:PSMMY) is a leading United Kingdom–based residential property developer primarily engaged in the design, construction and sale of new homes. The company’s product range spans starter homes for first-time buyers, family houses and executive properties, addressing a broad spectrum of customer needs. Persimmon also offers warranty and after-sales services through its in-house customer care teams, ensuring ongoing support for homeowners.

Founded in 1972 and headquartered in York, North Yorkshire, Persimmon has grown from a regional builder into one of the UK’s most prolific housebuilders.