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Shares of Staples (NASDAQ:SPLS) were the target of unusually large options trading activity on Tuesday. Stock investors acquired 3,623 put options on the company, Analyst Ratings.Net reports. This represents an increase of 421% compared to the average daily volume of 696 put options.

Several analysts have recently commented on the stock. 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.77.

Staples (NASDAQ:SPLS) traded up 0.78% on Tuesday, hitting $11.62. The stock had a trading volume of 10,521,045 shares. Staples has a one year low of $10.70 and a one year high of $17.01. The stock has a 50-day moving average of $11.22 and a 200-day moving average of $11.88. The company has a market cap of $7.514 billion and a P/E ratio of 13.91.

Staples, Inc (NASDAQ:SPLS) is an office products company.

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