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

Persimmon Plc (OTCMKTS:PSMMY)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $32.13, but opened at $33.08. Persimmon shares last traded at $33.08, with a volume of 112 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Zacks Research raised Persimmon from a “strong sell” rating to a “hold” rating in a research report on Friday, August 14th. UBS Group initiated coverage on Persimmon in a research report on Wednesday, September 9th. They set a “buy” rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised Persimmon from a “hold” rating to a “buy” rating in a research report on Friday, August 7th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Persimmon Price Performance

The firm has a 50-day moving average price of $31.57 and a two-hundred day moving average price of $29.94. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.21 and a quick ratio of 0.34.

Persimmon Company Profile

Persimmon plc is a United Kingdom-based housebuilding company that develops, constructs and sells residential properties. Its portfolio includes homes designed for first-time buyers, families and other owner-occupiers, ranging from apartments and smaller houses to larger family properties.

The company operates through several established brands, including Persimmon Homes, Charles Church and Westbury Partnerships. In addition to private-market housing, its activities include working with housing associations and other partners to provide affordable and social housing.