Jefferies Group LLC Reiterates Hold Rating for Staples, Inc. (SPLS)
Staples, Inc. (NASDAQ:SPLS)‘s stock had its “hold” rating reiterated by research analysts at Jefferies Group LLC in a research report issued to clients and investors on Wednesday. They presently have a $9.00 price target on the specialty retailer’s stock. Jefferies Group LLC’s price target would indicate a potential downside of 11.42% from the company’s previous close.
SPLS has been the topic of several other research reports. Zacks Investment Research downgraded Staples from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a report on Tuesday, May 16th. Telsey Advisory Group raised their price objective on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a report on Thursday, June 29th. BidaskClub downgraded Staples from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Loop Capital reissued a “hold” rating and set a $5.00 price objective on shares of Staples in a report on Friday, May 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Staples has an average rating of “Hold” and a consensus target price of $9.18.
Shares of Staples (NASDAQ SPLS) traded down 0.29% during mid-day trading on Wednesday, reaching $10.16. The company had a trading volume of 20,903,414 shares. Staples has a 12-month low of $7.24 and a 12-month high of $10.25. The stock’s market capitalization is $6.64 billion. The firm’s 50 day moving average is $9.86 and its 200-day moving average is $9.34.
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 Thomson Reuters’ consensus estimate of $0.17. Staples had a positive return on equity of 14.07% and a negative net margin of 12.51%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter last year, the business posted $0.17 EPS. Staples’s revenue for the quarter was down 4.9% on a year-over-year basis. On average, analysts expect that Staples will post $0.88 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Staples by 3,241.4% in the first quarter. BlackRock Inc. now owns 47,899,430 shares of the specialty retailer’s stock valued at $420,078,000 after buying an additional 46,465,935 shares during the last quarter. Oldfield Partners LLP bought a new position in shares of Staples during the first quarter valued at approximately $124,653,000. Quinn Opportunity Partners LLC increased its position in shares of Staples by 3,854.3% in the second quarter. Quinn Opportunity Partners LLC now owns 5,528,766 shares of the specialty retailer’s stock valued at $55,675,000 after buying an additional 5,388,948 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Staples by 48.6% in the first quarter. Dimensional Fund Advisors LP now owns 15,070,240 shares of the specialty retailer’s stock valued at $132,163,000 after buying an additional 4,930,604 shares during the last quarter. Finally, Prudential Financial Inc. increased its position in shares of Staples by 124.3% in the first quarter. Prudential Financial Inc. now owns 6,124,831 shares of the specialty retailer’s stock valued at $53,715,000 after buying an additional 3,393,950 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other 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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