Staples, Inc. (SPLS) Receives $8.85 Average Target Price from Analysts
Shares of Staples, Inc. (NASDAQ:SPLS) have earned a consensus rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $8.85.
Several research analysts recently commented on the company. BidaskClub cut Staples from a “sell” rating to a “strong sell” rating in a research 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 research report on Wednesday, August 9th. Finally, Zacks Investment Research cut Staples from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th.
Staples (NASDAQ:SPLS) traded up 0.10% during mid-day trading on Thursday, reaching $10.25. 9,785,997 shares of the company traded hands. The stock has a 50 day moving average price of $10.21 and a 200-day moving average price of $9.58. The company’s market capitalization is $6.73 billion. Staples has a 52-week low of $7.24 and a 52-week high of $10.26.
Staples (NASDAQ:SPLS) last announced its quarterly earnings data on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.87 billion. Staples had a net margin of 1.61% and a return on equity of 7.49%. Staples’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. Analysts expect that Staples will post $0.86 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Ballentine Partners LLC increased its stake in shares of Staples by 0.5% in the second quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock valued at $104,000 after buying an additional 50 shares in the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Staples in the second quarter valued at $109,000. Airain ltd acquired a new stake in shares of Staples in the second quarter valued at $109,000. Summit Securities Group LLC acquired a new stake in shares of Staples in the second quarter valued at $116,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Staples in the first quarter valued at $102,000. 85.56% of the stock is owned by institutional investors.
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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