Standard Pacific Corp. Stock Rating Lowered by Raymond James (SPF)
Standard Pacific Corp. (NYSE:SPF) was downgraded by Raymond James to a “market perform” rating in a research note issued on Thursday, American Banking News reports.
Standard Pacific Corp. (NYSE:SPF) opened at 7.76 on Thursday. Standard Pacific Corp. has a one year low of $5.71 and a one year high of $9.97. The stock has a 50-day moving average of $7.70 and a 200-day moving average of $8.29. The company has a market cap of $2.149 billion and a P/E ratio of 5.34.
Standard Pacific Corp. (NYSE:SPF) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.11 earnings per share for the quarter, missing the analysts’ 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. Standard Pacific Corp.’s revenue was up 59.6% compared to the same quarter last year. Analysts expect that Standard Pacific Corp. will post $0.41 EPS for the current fiscal year.
SPF has been the subject of a number of other recent research reports. Analysts at Zacks upgraded shares of Standard Pacific Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 1st. They now have a $8.50 price target on the stock. Separately, analysts at Credit Suisse cut their price target on shares of Standard Pacific Corp. 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. Finally, analysts at Williams Financial Group raised their price target on shares of Standard Pacific Corp. from $8.00 to $9.00 in a research note to investors on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $9.81.
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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