Persimmon PLC

PSN: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Persimmon: Stock Price Reaction to Build Cost Outlook Is Overdone; Shares Materially Undervalued

Grant Slade

Nov 7, 2024

Persimmon’s third-quarter 2024 trading update affirmed that trading conditions continue to improve for the no-moat homebuilder in late 2024. Indeed, Persimmon’s weekly private home sales rate—a closely watched metric by investors—rose to 0.7 homes per active sales outlet in the third quarter, up 37% year on year. Improving sales activity for Persimmon reflects the cyclical recovery underway in the UK’s housing market—which is bouncing back from cyclical lows in 2023—and tracks broadly in line with recent improvements in sales activity reported by its homebuilder peers.

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Persimmon PLC

Persimmon: Stock Price Reaction to Build Cost Outlook Is Overdone; Shares Materially Undervalued

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