Insider Selling: John Patrick Babel Unloads 50,000 Shares of Standard Pacific Corp. Stock (SPF)
Standard Pacific Corp. (NYSE:SPF) EVP John Patrick Babel sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $9.00, for a total value of $450,000.00. Following the transaction, the executive vice president now directly owns 57,168 shares of the company’s stock, valued at approximately $514,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on SPF. Analysts at Sterne Agee initiated coverage on shares of Standard Pacific Corp. in a research note to investors on Thursday, December 19th. They set a “neutral” rating and a $8.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Standard Pacific Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, November 5th. They now have a $8.90 price target on the stock. Finally, 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, October 17th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $9.66.
Standard Pacific Corp. (NYSE:SPF) traded down 0.33% during mid-day trading on Thursday, hitting $9.02. The stock had a trading volume of 2,875,366 shares. Standard Pacific Corp. has a 1-year low of $7.03 and a 1-year high of $9.97. The stock has a 50-day moving average of $8.12 and a 200-day moving average of $7.98. The company has a market cap of $2.500 billion and a P/E ratio of 5.94.
Standard Pacific Corp. (NYSE:SPF) last announced its earnings results on Friday, November 1st. The company reported $0.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.03. The company had revenue of $511.80 million for the quarter, compared to the consensus estimate of $551.48 million. During the same quarter last year, the company posted $0.05 earnings per share. Standard Pacific Corp.’s revenue was up 60.7% compared to the same quarter last year. Analysts expect that Standard Pacific Corp. will post $0.44 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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