Persimmon (LON:PSN) Share Price Breaks Above 200-Day Moving Average – Should You Sell?

Shares of Persimmon Plc (LON:PSN) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 1,118.70 and traded as high as GBX 1,260.50. Persimmon shares last traded at GBX 1,255, with a volume of 1,334,014 shares trading hands.

Analyst Ratings Changes

PSN has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 1,590 target price on shares of Persimmon in a report on Monday, September 28th. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 1,350 target price on shares of Persimmon in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft decreased their price target on Persimmon from GBX 1,419 to GBX 1,403 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Citigroup lowered their price target on Persimmon from £161.50 to £128 and set a “buy” rating for the company in a research report on Tuesday, June 23rd. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 2,564.30.

Persimmon Price Performance

The company has a market capitalization of £4.05 billion, a P/E ratio of 13.39, a P/E/G ratio of 0.83 and a beta of 1.40. The firm’s fifty day moving average is GBX 1,181.11 and its 200 day moving average is GBX 1,119.99. 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 posted its quarterly earnings data on Thursday, August 6th. The company reported GBX 38 earnings per share for the quarter. Persimmon had a net margin of 7.68% and a return on equity of 8.45%. As a group, analysts predict that Persimmon Plc will post 98.28 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Andrew Duxbury sold 26,105 shares of the business’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of GBX 1,320, for a total transaction of £344,586. Corporate insiders own 2.64% of the company’s stock.

Persimmon Company Profile

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.