Persimmon (OTCMKTS:PSMMY) Stock Price Up 16.6% – Still a Buy?

Persimmon Plc (OTCMKTS:PSMMY)’s share price traded up 16.6% on Tuesday. The company traded as high as $35.80 and last traded at $35.80. 2,142 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 27,884 shares. The stock had previously closed at $30.70.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Persimmon from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. UBS Group started coverage on Persimmon in a research note on Wednesday, September 9th. They set a “buy” rating on the stock. Finally, Zacks Research upgraded Persimmon from a “strong sell” rating to a “hold” rating in a report on Friday, August 14th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Persimmon Stock Down 0.1%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.34 and a current ratio of 4.21. The stock’s 50 day moving average price is $30.83 and its 200-day moving average price is $29.81.

About Persimmon

Persimmon plc is a United Kingdom-based housebuilder that develops and sells new homes for private buyers, first-time purchasers and affordable-housing customers. Its operations include land acquisition, residential planning, construction and home sales, as well as customer support following completion.

The company markets homes primarily through the Persimmon Homes, Charles Church and Westbury Partnerships brands. Its developments range from entry-level and family housing to larger, higher-specification properties, while Westbury Partnerships works with housing associations and other organizations to deliver affordable homes.

Persimmon traces its origins to 1972 and serves communities across England, Scotland and Wales through a network of regional operating businesses.