Staples, Inc. (SPLS) Stock Rating Upgraded by BidaskClub

Staples, Inc. (NASDAQ:SPLS) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday, August 5th.

Several other brokerages also recently commented on SPLS. Deutsche Bank AG set a $8.00 price target on Staples and gave the stock a “hold” rating in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Loop Capital reissued a “hold” rating and set a $5.00 price objective on shares of Staples in a report on Friday, May 19th. Telsey Advisory Group lifted their price objective on Staples from $9.00 to $10.25 and gave the stock a “market perform” rating in a report on Thursday, June 29th. Finally, Zacks Investment Research raised Staples from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $9.18.

Shares of Staples (NASDAQ:SPLS) traded down 0.10% on Friday, reaching $10.19. 6,126,500 shares of the company traded hands. The company’s market capitalization is $6.66 billion. Staples has a 52-week low of $7.24 and a 52-week high of $10.25. The firm has a 50-day moving average of $10.14 and a 200-day moving average of $9.41.

Staples (NASDAQ:SPLS) last issued its quarterly earnings data on Tuesday, May 16th. The specialty retailer reported $0.17 earnings per share for the quarter, meeting the Zacks’ 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 the consensus estimate of $4.50 billion. During the same period last year, the business earned $0.17 EPS. The firm’s revenue was down 4.9% compared to the same quarter last year. On average, equities research analysts forecast that Staples will post $0.88 earnings per share for the current fiscal year.

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A number of institutional investors have recently modified their holdings of the stock. DnB Asset Management AS increased its position in shares of Staples by 32.2% in the first quarter. DnB Asset Management AS now owns 48,849 shares of the specialty retailer’s stock valued at $428,000 after buying an additional 11,900 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in Staples during the first quarter worth $243,000. Atria Investments LLC increased its stake in Staples by 56.5% in the first quarter. Atria Investments LLC now owns 265,220 shares of the specialty retailer’s stock worth $2,326,000 after buying an additional 95,778 shares during the last quarter. Visionary Asset Management Inc. increased its stake in Staples by 7.6% in the first quarter. Visionary Asset Management Inc. now owns 365,463 shares of the specialty retailer’s stock worth $3,205,000 after buying an additional 25,680 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in Staples by 10.7% in the first quarter. Bank of Montreal Can now owns 2,059,504 shares of the specialty retailer’s stock worth $18,062,000 after buying an additional 198,666 shares during the last quarter. Hedge funds and other institutional investors own 90.62% of the company’s stock.

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.

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