Traders Buy High Volume of International Business Machines Corp. Put Options (IBM)
International Business Machines Corp. (NYSE:IBM) was the target of unusually large options trading activity on Tuesday. Stock traders acquired 22,035 put options on the stock, AnalystRatingsNetwork reports. This is an increase of approximately 128% compared to the typical daily volume of 9,661 put options.
Several analysts have recently commented on the stock. Analysts at RBC Capital cut their price target on shares of International Business Machines Corp. from $210.00 to $205.00 in a research note to investors on Tuesday. They now have a “sector perform” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of International Business Machines Corp. in a research note to investors on Tuesday. Finally, analysts at Barclays Capital downgraded shares of International Business Machines Corp. from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $190.00 price target on the stock, down previously from $215.00. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $216.39.
Shares of International Business Machines Corp. (NYSE:IBM) traded down 1.81% during mid-day trading on Tuesday, hitting $178.72. 5,579,833 shares of the company’s stock traded hands. International Business Machines Corp. has a 52-week low of $178.71 and a 52-week high of $215.90. The stock’s 50-day moving average is $186.5 and its 200-day moving average is $196.8. The company has a market cap of $195.8 billion and a price-to-earnings ratio of 12.92.
International Business Machines Corp. (NYSE:IBM) last announced its earnings results on Wednesday, July 17th. The company reported $3.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.14. The company had revenue of $24.92 billion for the quarter, compared to the consensus estimate of $25.39 billion. During the same quarter in the previous year, the company posted $3.51 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. On average, analysts predict that International Business Machines Corp. will post $16.89 earnings per share for the current fiscal year.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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