Investors Buy High Volume of JPMorgan Chase & Co. Put Options (JPM)
JPMorgan Chase & Co. (NYSE:JPM) was the target of unusually large options trading on Wednesday. Stock traders bought 26,458 put options on the stock, Analyst Ratings.Net reports. This represents an increase of 104% compared to the average daily volume of 12,983 put options.
A number of research firms have recently commented on JPM. Analysts at Nomura upgraded shares of JPMorgan Chase & Co. from a “neutral” rating to a “buy” rating in a research note on Wednesday. They now have a $69.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of JPMorgan Chase & Co. in a research note on Thursday, August 28th. They now have a $62.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of JPMorgan Chase & Co. from $64.00 to $65.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $62.15.
JPMorgan Chase & Co. (NYSE:JPM) traded up 0.05% during mid-day trading on Wednesday, hitting $59.70. 11,791,809 shares of the company’s stock traded hands. JPMorgan Chase & Co. has a 52-week low of $50.06 and a 52-week high of $61.48. The stock has a 50-day moving average of $57.96 and a 200-day moving average of $57.15. The company has a market cap of $224.5 billion and a price-to-earnings ratio of 15.32.
JPMorgan Chase & Co. (NYSE:JPM) last posted its quarterly earnings results on Tuesday, July 15th. The company reported $1.59 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.33 by $0.26. The company had revenue of $25.30 billion for the quarter, compared to the consensus estimate of $23.86 billion. During the same quarter last year, the company posted $1.60 earnings per share. JPMorgan Chase & Co.’s revenue was down 3.0% compared to the same quarter last year. Analysts expect that JPMorgan Chase & Co. will post $5.52 EPS for the current fiscal year.
JPMorgan Chase & Co (NYSE:JPM) is a financial holding company.