Persimmon (LON:PSN) Shares Cross Above 200-Day Moving Average – Should You Sell?

Shares of Persimmon Plc (LON:PSN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 1,276.64 and traded as high as GBX 1,469.45. Persimmon shares last traded at GBX 1,469.45, with a volume of 1,420,541 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PSN. Citigroup increased their price target on Persimmon from GBX 1,613 to GBX 1,615 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft downgraded Persimmon to a “hold” rating and set a GBX 1,419 price objective on the stock. in a research report on Thursday, January 15th. Peel Hunt reiterated a “buy” rating and set a GBX 1,330 target price on shares of Persimmon in a research report on Thursday, November 13th. JPMorgan Chase & Co. lifted their target price on Persimmon from GBX 1,520 to GBX 1,800 and gave the company an “overweight” rating in a research note on Thursday, December 4th. Finally, Jefferies Financial Group boosted their price target on Persimmon from GBX 1,815 to GBX 1,819 and gave the stock a “buy” rating in a report on Monday, January 19th. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 1,513.

Persimmon Stock Down 2.4%

The company has a quick ratio of 1.04, a current ratio of 3.86 and a debt-to-equity ratio of 5.39. The stock has a market capitalization of £4.71 billion, a P/E ratio of 18.53, a PEG ratio of 0.83 and a beta of 1.32. The company has a fifty day moving average price of GBX 1,429.54 and a 200-day moving average price of GBX 1,276.64.

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.