NYSE:SPF
$4.88
(3/12 6:40PM)
-1.4%
| Open | $5 |
Mkt Cap | $517.8 Million |
| High | $5.04 |
52Wk High | $5.14 |
| Low | $4.83 |
52Wk Low | $0.85 |
| Volume | 1.1 Million |
Avg Vol 10D | 1.4 Million |
Ockham's Rating/Recommendation Summary
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SPF Revenue
As a value investing shop, we are interested in seeing how SPF's revenues measure up against past performances. One easily understandable way of doing that is to compare Price to Sales per share levels over a given time frame. Assuming it is available, Ockham prefers to look at ten years of history (for this stock there are 10 years of history available) and we weigh recent years more heavily. This allows us to find weighted average historical high and low Price to Sales ratios, which give us a better idea of the stock's current underlying value. Using this method, we have established a high range for Price to Sales of 0.72x and the low end of the range at 0.25x.
With respect to these historically rational metrics, notice that the current Price to Sales per share ratio for SPF of 0.44x is below its historical average only slightly. So, while not a huge positive for our analysis, we do feel it is worth noting that SPF does look a bit undervalued on a Price to Sales basis, all other factors being equal. However, if the Price to Sales ratio drops further, Ockham Research is likely to become more bullish on this stock.
SPF Cash Earnings
As a value investment framework, Ockham Research is similar to a private equity firm in terms of our valuation methods. We are always on the lookout for value in the form of sales and cash numbers. In the case of SPF, Ockham views their current Cash Earnings as significantly above its historical average multiple of cash earnings as calculated by Ockham. Similar to our analysis of sales per share, Ockham looks at the last 10 years of cash earnings levels for SPF to identify where the current high and low price levels have been historically in relation to profit per share. Again, we utilize a weighted average methodology which relies more heavily on recent years of data. This weighted average framework provides us with an average high Price to Cash Earnings ratio per share of 15.01 and a 5.45 low over the same period.
Therefore, at the current price of $4.88 and a Price to Cash Earnings ratio of 27.11, SPF is significantly overvalued. This diminishes the attractiveness of SPF until we see either a significant increase in cash earnings or a decline in price. A decline of the Price to Cash Earnings ratio of 165% is needed just to return to the historical cash earnings multiple.
SPF Dividends
A positive Ockham rating does not require a company to pay out an inviting dividend or a dividend at all. However, we believe dividends provide a useful measure of a company's inherent expectations.
Power Lunch Discusses Higher Prices and Standard Pacific Corp.
Stick with it or dump it? Power Lunch discusses what an abnormally high price means for SPF's investors. Take note of Ockham's valaution on the stock as well.
The crowd at The Motley Fool does not like SPF and believes that it will Underperform. In comparing news flow statistics for the various companies we follow through RazorWire, we can tell you that SPF ranks just about where it normally does. At Ockham, we are not advising buying Standard Pacific Corp. at the current price level because according to our methodology it is not supported by the fundamentals.
“… STANDARD PACIFIC, new high for them. Pulte homes and kb homes advancing. Sector advances, tell come stocks having nice day. Sprint having one of the nicest days in a while. …”
Its All About Earnings: Countdown to the Closing Bell Talks About SPF
Earnings are one of the most important fundamental factors we track, so we are always interested in the latest profit reports and news.
As we analyze the results from RazorWire, one thing we do is rank each stock in terms of amount of news coverage. Recently, SPF has been less covered in the news compared to the rest of our universe of stocks. The crowd at The Motley Fool does not like SPF and believes that it will Underperform. Check the news on this stock because there is a catalyst that has allowed this stock to advance 5.88% today. At Ockham, we are not advising buying Standard Pacific Corp. at the current price level because according to our methodology it is not supported by the fundamentals.
“… Dimensional fund advisers releasing a fcc filing that they bought into STANDARD PACIFIC, you've got earnings out before the the bell. Noticeable sea change in the earnings. …”
See More News on SPF from Street Signs
As always, the latest news on SPF is available to Ockham clients through RazorWire, and it was mentioned recently on Street Signs.
As of this week's report, we have an Overvalued valuation on SPF because the price has gotten too high to be justified by the fundamentals. Take notice of the news on this stock because it is up $0.21 since the close of trading yesterday. Interestingly, overall sentiment looks bearish according to the Motley Fool's CAPS survey, as most of their users see Standard Pacific Corp. underperforming. When taking into account the amount of news coverage each stock normally sees as a percentage of the total, Standard Pacific Corp. has actually sunk a bit in comparison to the others.
“… We had a couple of companies like STANDARD PACIFIC last week that simply did not do well. Up 3% or 4%, these are heavily shorted names. …”
Yearly Highs and SPF Recently Discussed on Closing Bell
Stick with it or dump it? Closing Bell discusses what an abnormally high price means for SPF's investors. Take note of Ockham's valaution on the stock as well.
Interestingly, overall sentiment looks bearish according to the Motley Fool's CAPS survey, as most of their users see Standard Pacific Corp. underperforming. When taking into account the amount of news coverage each stock normally sees as a percentage of the total, Standard Pacific Corp. has actually sunk a bit in comparison to the others. As of this week's report, we have an Overvalued valuation on SPF because the price has gotten too high to be justified by the fundamentals.
“… You see nice gains for kb homes, STANDARD PACIFIC and ryland the airline index is at a new 52-week high today. How about other stocks that are out there? …”
Standard Pacific Corp. (SPF) Discussed on CNBC's Power Lunch
Standard Pacific Corp. is in the news. Find out how this impacts SPF trading on Ockham Research.
Elsewhere on the downside, we've had a second day in a row with homebuilders at a downside. We've seen some builders up 50% since july. Look what's going on today. STANDARD PACIFIC is down over 20%. Finally, I want to note, hmos are on the upside after having a rather ugly time of it recently. They had concerns about swine flu increasing in the fall, but are finally bouncing back here today. We are just barely positive on the nasdaq. >> you want a definition of hanging on to green? .01 to the upside is where we cisco, ken adams talks about emc, possible some sort of
“… ving a rather ugly time of it recently. They had concerns about swine flu increasing in the fall, but are finally bouncing back here today. We are just barely positive on the nasdaq. >> you want a definition of hanging on to green? .01 to the upside is where we cisco, ken adams talks about emc, possible some sort of …”
Standard Pacific Corp. (SPF) Discussed on Fox Business's Countdown to the Closing Bell
Standard Pacific Corp. is in the news. Find out how this impacts SPF trading on Ockham Research.
Pieces of the information in the housing market. Pending home sales showing signs of improvement. We saw home builders react to the up side on the news earlier. Look at the effect of the broader market as having on the stocks. A huge turn-around here. STANDARD PACIFIC, different story, down 9%. But the home builders down across the board from hovnanian to toll brothers. While there is a lot of red on the big board, I made it a point to find the bright spots out there. One retailer, coach, I mentioned wal-mart last time. Coach in the green by 2%. Remember, this is a luxury apparel handbag shoe maker. Basically upgraded at bank of america, merrill lynch today, raising the price target to $36 a share. Another instance of an analyst bullish on a retailer because they've been trimming down the inventories and the
“… NDARD PACIFIC, different story, down 9%. But the home builders down across the board from hovnanian to toll brothers. While there is a lot of red on the big board, I made it a point to find the bright spots out there. One retailer, coach, I mentioned wal-mart last time. Coach in the green by 2%. Remember, this is a luxury apparel handbag shoe maker. Basically upgraded at bank of america, merrill lynch today, raising the price target to $36 a share. Another instance of an analyst bullish on a retailer because they've been trimming down the inventories and the …”
Standard Pacific Corp. (SPF) Discussed on Fox Business's Countdown to the Closing Bell
Standard Pacific Corp. is in the news. Find out how this impacts SPF trading on Ockham Research.
Looking at shares of american axle in the red. Deutsche bank says the shares now appear fully valued after soaring following an agreement with general motors for $1$110 million in cash, down 9 1/4%. Look at the shares of STANDARD PACIFIC, trading pending home sales beat expectations but the weiss research says, "looming expiration of the home buyer tax credit," in november, may take some wind out of the market sails this fall. Go to sandra smith on the floor of the new york stock big action there. >> down 182 points in the dow as you mentioned, on pretty decent volume. Considering it's a summer day, heading into a long but you think that there was a sign of panic on the floor or anything like that. You're not seeing it a lot. The traders saying we were due for this. We had several months of big
“… home sales beat expectations but the weiss research says, "looming expiration of the home buyer tax credit," in november, may take some wind out of the market sails this fall. Go to sandra smith on the floor of the new york stock big action there. >> down 182 points in the dow as you mentioned, on pretty decent volume. Considering it's a summer day, heading into a long but you think that there was a sign of panic on the floor or anything like that. You're not seeing it a lot. The traders saying we were due for this. We had several months of big …”
Standard Pacific Corp. (SPF) Discussed on CNBC's Squawk On The Street
Standard Pacific Corp. is in the news. Find out how this impacts SPF trading on Ockham Research.
Three years. Masco, big building supplier, had a loss but talked more positively about the rest of the that's important. STANDARD PACIFIC, these stocks have had huge moves, you want to know how tough it is to be an oil refiner? Look at valero, they had a nice
“… nice …”
Standard Pacific Corp. (SPF) Discussed on Fox Business's Countdown to the Closing Bell
Standard Pacific Corp. is in the news. Find out how this impacts SPF trading on Ockham Research.
>> stock. Day today. We're picking STANDARD PACIFIC, the home builders surging today along with builders stocks with june home sales. Did you see these? Came in better than expected, up 11%, so sales of single family units are increasing, and STANDARD PACIFIC builds single family attached and detached. Keep in mind a small cap company with a market cap above $300 billion dollars so if the swings tend to go wide with moves like and we're watching that closely.
“… CIFIC builds single family attached and detached. Keep in mind a small cap company with a market cap above $300 billion dollars so if the swings tend to go wide with moves like and we're watching that closely. …”
Standard Pacific Corp. (SPF) Discussed on CNBC's Street Signs
Standard Pacific Corp. is in the news. Find out how this impacts SPF trading on Ockham Research.
And there all kind of examples. We have a lot of real estate debt and companies. We are in the portfolio and we own STANDARD PACIFIC debt and we have been. >> did you sea city? >> a car drove by and I wanted to be sure. >> that's still difficult for
“… And there all kind of examples. We have a lot of real estate debt and companies. We are in the portfolio and we own STANDARD PACIFIC debt and we have been. >> did you sea city? >> a car drove by and I wanted to be sure. >> that's still difficult for …”