Traders Buy High Volume of OfficeMax Put Options (OMX)
OfficeMax (NYSE:OMX) was the recipient of unusually large options trading activity on Wednesday. Traders acquired 10,256 put options on the stock, AnalystRatingsNetwork reports. This represents an increase of approximately 1,748% compared to the typical volume of 555 put options.
A number of analysts have recently weighed in on OMX shares. Analysts at KeyCorp raised their price target on shares of OfficeMax (NYSE:OMX) from $14.25 to $14.80 in a research note to investors on Monday, August 12th. They now have a “buy” rating on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of OfficeMax (NYSE:OMX) from $11.50 to $11.00 in a research note to investors on Thursday, August 8th. Finally, analysts at Barclays Capital raised their price target on shares of OfficeMax (NYSE:OMX) from $9.00 to $10.00 in a research note to investors on Thursday, August 8th.
Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $12.23.
Shares of OfficeMax (NYSE:OMX) traded up 1.55% during mid-day trading on Wednesday, hitting $12.43. 2,312,444 shares of the company’s stock traded hands. OfficeMax has a 52-week low of $7.04 and a 52-week high of $14.92. The stock has a 50-day moving average of $11.17 and a 200-day moving average of $11.44. The company has a market cap of $1.083 billion and a price-to-earnings ratio of 2.42.
OfficeMax (NYSE:OMX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.03 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. On average, analysts predict that OfficeMax will post $0.51 earnings per share for the current fiscal year.
OfficeMax Incorporated (NYSE:OMX), is engaged in both business-to-business and retail office products distribution.
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