Staples Short Interest Down 8.2% in August (SPLS)
Shares of Staples (NASDAQ:SPLS) were the recipient of a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 87,475,245 shares, a decrease of 8.2% from the July 31st total of 95,335,555 shares, AnalystRatings.Net reports. Currently, 13.6% of the shares of the company are short sold. Based on an average daily volume of 7,114,995 shares, the days-to-cover ratio is presently 12.3 days.
A number of research firms have recently commented on SPLS. Analysts at Zacks reiterated a “neutral” rating on shares of Staples in a research note on Friday. They now have a $12.00 price target on the stock. Separately, analysts at Wolfe Research downgraded shares of Staples to an “underperform” rating in a research note on Wednesday, July 23rd. Finally, 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. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. Staples presently has an average rating of “Hold” and an average price target of $12.39.
Shares of Staples (NASDAQ:SPLS) opened at 11.68 on Tuesday. Staples has a 52-week low of $10.70 and a 52-week high of $16.67. The stock’s 50-day moving average is $11.28 and its 200-day moving average is $11.77. The company has a market cap of $7.524 billion and a price-to-earnings ratio of 14.52.
Staples (NASDAQ:SPLS) last issued its earnings data on Wednesday, August 20th. The company reported $0.12 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.11 by $0.01. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same quarter last year, the company posted $0.16 earnings per share. Staples’s revenue was down 1.8% compared to the same quarter last year. Analysts expect that Staples will post $0.97 EPS for the current fiscal year.
Staples, Inc (NASDAQ:SPLS) is an office products company.
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