Alpesh Patel New Buy recommendation – Persimmon Homes & free 30 day trial exclusively to SBM readers
Persimmon Plc PSN:LSE BUY
Today we’ve picked the Persimmon Plc. as our pick of the day. Persimmon Plc. is the holding company of the Persimmon Group of companies ((the Group). The principal activity of the Group is house building, which is carried out within the United Kingdom. The Group’s main trading companies are Persimmon Homes Limited and Charles Church Developments Limited. The Group operates under the brand names of Persimmon Homes, Charles Church, Westbury Partnerships and Space4. The Company sold 9,903 new homes from its 24 regional offices. It operates in three segments. Its North Division includes operating businesses in Scotland, North West, North East and Yorkshire. Its Central Division includes its Birmingham, Shires and Eastern regions. Its South Division includes its Southern, Western and Wales regions, and Space4.
FUNDAMENTALS AND TECHNICALS
Company Financials
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Stock Price: 1,400 GBX |
Market Capitalization: £4.24bn |
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52-week range: 794.52 – 1,403.2 GBX |
Shares outstanding: 304.70m |
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P/E (TTM) : 22.07 |
Annual div (TTM) : – |
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EPS (TTM) : 0.631 GBP |
Annual div yield (TTM) : – |
Chart
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Fundamental and Technical Analysis
Persimmon Plc. (PSN:LSE) is trading at 1,400GBp which is just short of the new 52-week high set over yesterday’s session. Persimmon Plc. has been rated an 9 out 10 in our Value/Growth rating and gets an A Grade rating on our Bullish Momentum meter. Year on year Revenues are up 12.14% while net income has grown 53.67%.
From a technical standpoint, the stock has been on an uptrend since the end of last year and has recently broken above the 1,300GBp resistance. After having verified this breakout the price continues climbing higher. The weekly and monthly MACD indicators leave room for further growth in the coming period and as such we are looking to buy this stock at current levels.
We intend to hold it for the next 2-4 months and our target price is the 1,600GBp. As initial stop level we will use the 1,200GBp and as the stock progresses towards our target we will trail our stops higher using the uptrend’s ascending trendline.
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