Staples Short Interest Up 5.4% in July (SPLS)
Staples (NASDAQ:SPLS) was the recipient of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 95,335,555 shares, a growth of 5.4% from the July 15th total of 90,451,533 shares, American Banking and Market News reports. Based on an average trading volume of 8,495,969 shares, the short-interest ratio is presently 11.2 days. Currently, 14.9% of the shares of the company are sold short.
SPLS has been the subject of a number of recent research reports. Analysts at Wolfe Research downgraded shares of Staples to an “underperform” rating in a research note on Wednesday, July 23rd. Separately, analysts at Goldman Sachs initiated coverage on shares of Staples in a research note on Tuesday, June 24th. They set an “underweight” rating and a $11.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Staples in a research note on Tuesday, June 24th. They set an “underweight” rating and a $11.00 price target on the stock. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. Staples currently has a consensus rating of “Hold” and an average price target of $12.79.
Shares of Staples (NASDAQ:SPLS) traded up 0.18% on Monday, hitting $11.41. 5,236,599 shares of the company’s stock traded hands. Staples has a 52-week low of $10.70 and a 52-week high of $17.30. The stock has a 50-day moving average of $11.14 and a 200-day moving average of $11.98. The company has a market cap of $7.378 billion and a P/E ratio of 13.74.
Staples (NASDAQ:SPLS) last released its earnings data on Tuesday, May 20th. The company reported $0.18 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.26 earnings per share. Staples’s revenue was down 2.8% compared to the same quarter last year. On average, analysts predict that Staples will post $0.98 earnings per share for the current fiscal year.
Staples, Inc (NASDAQ:SPLS) is an office products company.
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