Short Interest in Staples Expands By 5.6% (SPLS)
Shares of Staples (NASDAQ:SPLS) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 93,221,010 shares, a growth of 5.6% from the April 30th total of 88,318,293 shares, AnalystRatingsNetwork.com reports. Approximately 14.5% of the shares of the company are sold short. Based on an average daily volume of 8,292,368 shares, the short-interest ratio is presently 11.2 days.
A number of research firms have recently commented on SPLS. Analysts at Citigroup Inc. downgraded shares of Staples from a “neutral” rating to a “sell” rating in a research note on Tuesday. They now have a $11.50 price target on the stock, up previously from $11.00. Separately, analysts at Goldman Sachs downgraded shares of Staples from a “neutral” rating to a “sell” rating in a research note on Tuesday. They now have a $11.00 price target on the stock, down previously from $11.50. Finally, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Staples in a research note on Wednesday, May 21st. They now have a $11.00 price target on the stock, down previously from $12.00. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. Staples currently has a consensus rating of “Hold” and an average target price of $12.88.
Staples (NASDAQ:SPLS) opened at 11.37 on Friday. Staples has a 52-week low of $11.04 and a 52-week high of $17.30. The stock has a 50-day moving average of $12.33 and a 200-day moving average of $13.48. The company has a market cap of $7.352 billion and a P/E ratio of 13.68.
Staples (NASDAQ:SPLS) last issued its quarterly earnings data on Tuesday, May 20th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.03. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.62 billion. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts predict that Staples will post $0.97 earnings per share for the current fiscal year.
Staples, Inc (NASDAQ:SPLS) is an office products company.
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