Standard Pacific Corp. Target of Unusually Large Options Trading (SPF)
Standard Pacific Corp. (NYSE:SPF) was the target of some unusual options trading activity on Friday. Investors purchased 25,022 put options on the company, American Banking News.com reports. This represents an increase of approximately 790% compared to the average daily volume of 2,812 put options.
A number of research firms have recently commented on SPF. Analysts at Raymond James downgraded shares of Standard Pacific Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Standard Pacific Corp. has an average rating of “Buy” and an average price target of $9.81.
Standard Pacific Corp. (NYSE:SPF) opened at 7.79 on Monday. Standard Pacific Corp. has a 52 week low of $7.03 and a 52 week high of $9.97. The stock has a 50-day moving average of $7.67 and a 200-day moving average of $8.42. The company has a market cap of $2.157 billion and a price-to-earnings ratio of 5.36.
Standard Pacific Corp. (NYSE:SPF) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the 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 revenue for the quarter was up 59.6% on a year-over-year basis.
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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