Staples, Inc. (NASDAQ:SPLS) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

SPLS has been the topic of a number of other reports. Zacks Investment Research raised Staples from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a research note on Tuesday, May 16th. Telsey Advisory Group lifted their price target on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Jefferies Group LLC reissued a “hold” rating and set a $9.00 price target on shares of Staples in a research note on Wednesday, August 9th. Finally, Loop Capital reissued a “hold” rating and set a $5.00 price target on shares of Staples in a research note on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Staples presently has a consensus rating of “Hold” and an average price target of $9.18.

Shares of Staples (NASDAQ:SPLS) opened at 10.22 on Thursday. The firm’s market cap is $6.68 billion. Staples has a 52 week low of $7.24 and a 52 week high of $10.25. The stock has a 50 day moving average of $10.13 and a 200 day moving average of $9.40.

Staples (NASDAQ:SPLS) last released its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the consensus estimate of $0.17. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $4.50 billion. During the same period last year, the firm posted $0.17 earnings per share. Staples’s revenue was down 4.9% compared to the same quarter last year. Analysts anticipate that Staples will post $0.88 earnings per share for the current fiscal year.

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Institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC raised its position in Staples by 0.5% in the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock worth $104,000 after buying an additional 50 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Staples by 0.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 19,374 shares of the specialty retailer’s stock worth $195,000 after buying an additional 77 shares in the last quarter. Concert Wealth Management Inc. raised its position in Staples by 0.7% in the first quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock worth $109,000 after buying an additional 82 shares in the last quarter. Cleararc Capital Inc. raised its position in Staples by 0.5% in the first quarter. Cleararc Capital Inc. now owns 15,885 shares of the specialty retailer’s stock worth $139,000 after buying an additional 85 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Staples by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,293 shares of the specialty retailer’s stock worth $338,000 after buying an additional 145 shares in the last quarter. 90.62% of the stock is currently owned by institutional investors.

Staples Company Profile

Staples, Inc (Staples) is a provider of products and services that serve the needs of business customers and consumers. The Company offers a range of print and marketing and technology services. The Company’s segments include North American Delivery, North American Retail and Other. The North American Delivery segment consists of the United States and Canadian businesses, including Staples Business Advantage, staples.com, staples.ca, and quill.com, that sell and deliver products and services primarily to businesses.

Analyst Recommendations for Staples (NASDAQ:SPLS)

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