Shares of International Business Machines Corp. (NYSE:IBM) was the target of unusually large options trading on Wednesday. Stock traders bought 26,574 put options on the stock, AnalystRatingsNetwork reports. This represents an increase of approximately 104% compared to the typical volume of 13,033 put options.
A number of research firms have recently commented on IBM. Analysts at TheStreet reiterated a “buy” rating on shares of International Business Machines Corp. in a research note to investors on Wednesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of International Business Machines Corp. in a research note to investors on Friday, December 6th. They now have a $185.00 price target on the stock. Finally, analysts at Cowen and Company downgraded shares of International Business Machines Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, December 6th. They now have a $165.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. International Business Machines Corp. presently has an average rating of “Hold” and an average target price of $200.75.
International Business Machines Corp. (NYSE:IBM) traded up 1.67% on Wednesday, hitting $178.70. 5,698,251 shares of the company’s stock traded hands. International Business Machines Corp. has a 1-year low of $172.57 and a 1-year high of $215.90. The stock has a 50-day moving average of $179. and a 200-day moving average of $187.. The company has a market cap of $194.0 billion and a price-to-earnings ratio of 12.17.
International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $3.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.96 by $0.03. The company had revenue of $23.70 billion for the quarter, compared to the consensus estimate of $24.77 billion. During the same quarter in the prior year, the company posted $3.62 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Analysts expect that International Business Machines Corp. will post $16.88 EPS for the current fiscal year.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
This article (International Business Machines Corp. Target of Unusually Large Options Trading (IBM)) was originally developed by and is property of American Banking News.
Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.