Investors Purchase Large Volume of Standard Pacific Corp. Put Options (SPF)
Shares of Standard Pacific Corp. (NYSE:SPF) saw some unusual options trading activity on Friday. Traders purchased 24,802 put options on the stock, AnalystRatings.Net reports. This is an increase of approximately 1,352% compared to the typical daily volume of 1,708 put options.
Several analysts have recently commented on the stock. Analysts at Credit Suisse cut their price target on shares of Standard Pacific Corp. (NYSE:SPF) from $10.00 to $9.50 in a research note to investors on Tuesday, September 10th. They now have an “outperform” rating on the stock. Separately, analysts at Williams Financial Group raised their price target on shares of Standard Pacific Corp. (NYSE:SPF) from $8.00 to $9.00 in a research note to investors on Friday, August 2nd. Finally, analysts at Raymond James upgraded shares of Standard Pacific Corp. (NYSE:SPF) from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, August 1st. They now have a GBX 9.50 ($0.15) price target on the stock.
Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $9.94.
Shares of Standard Pacific Corp. (NYSE:SPF) opened at 7.92 on Monday. Standard Pacific Corp. has a 1-year low of $5.71 and a 1-year high of $9.97. The stock’s 50-day moving average is $7.67 and its 200-day moving average is $8.41. The company has a market cap of $2.193 billion and a price-to-earnings ratio of 5.45.
Standard Pacific Corp. (NYSE:SPF) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.12 by $0.01. The company had revenue of $438.70 million for the quarter, compared to the consensus estimate of $556.87 million. The company’s quarterly revenue was up 59.6% on a year-over-year basis. Analysts expect that Standard Pacific Corp. will post $0.40 EPS for the current fiscal year.
Standard Pacific Corp. is a geographically diversified business spans many of the housing markets, including metropolitan markets in California, Florida, the Carolinas, Texas, Arizona, and Colorado.
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