Staples, Inc. (SPLS) Given Average Recommendation of “Hold” by Analysts
Shares of Staples, Inc. (NASDAQ:SPLS) have been given an average recommendation of “Hold” by the nine research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $8.85.
Several equities research analysts recently commented on SPLS shares. Telsey Advisory Group boosted their price objective on shares of Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a research note on Thursday, June 29th. BidaskClub cut shares of Staples from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $9.00 target price on shares of Staples in a report on Wednesday, August 9th. Finally, Zacks Investment Research cut shares of Staples from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Shell Asset Management Co. increased its stake in Staples by 196.3% in the 3rd quarter. Shell Asset Management Co. now owns 109,908 shares of the specialty retailer’s stock worth $1,330,000 after buying an additional 72,818 shares during the period. W. E. Donoghue & Co. LLC bought a new position in Staples during the 2nd quarter worth about $17,464,000. Sentry Investment Management LLC bought a new position in Staples during the 2nd quarter worth about $509,000. Toronto Dominion Bank grew its holdings in Staples by 26.0% during the 2nd quarter. Toronto Dominion Bank now owns 221,236 shares of the specialty retailer’s stock worth $2,227,000 after acquiring an additional 45,623 shares in the last quarter. Finally, Banco BTG Pactual S.A. bought a new position in Staples during the 2nd quarter worth about $10,050,000. 85.56% of the stock is currently owned by institutional investors and hedge funds.
Staples (NASDAQ SPLS) traded up 0.10% during mid-day trading on Thursday, hitting $10.25. 9,785,997 shares of the stock traded hands. Staples has a 12 month low of $7.24 and a 12 month high of $10.26. The company’s 50 day moving average is $10.21 and its 200 day moving average is $9.58. The company’s market cap is $6.73 billion.
Staples (NASDAQ:SPLS) last released its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Staples had a net margin of 1.61% and a return on equity of 7.49%. The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the company earned $0.12 earnings per share. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts expect that Staples will post $0.86 earnings per share for the current fiscal year.
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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.
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