Staples’ (SPLS) Hold Rating Reaffirmed at Jefferies Group
Staples Inc. (NASDAQ:SPLS)‘s stock had its “hold” rating reissued by research analysts at Jefferies Group in a research report issued on Friday. They presently have a $9.00 price target on the stock. Jefferies Group’s target price would suggest a potential downside of 3.54% from the stock’s previous close.
The analysts wrote, “Q3 EPS was in line, though Street estimates were at the high end of new Q4 guidance range. Sales were a bit light of expectations, but margins were better. As telegraphed last quarter, SPLS acquired an independent dealer with over $100 million in revenue as it focuses on mid-market.””
SPLS has been the subject of several other reports. Zacks Investment Research lowered Staples from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. TheStreet lowered Staples to a “sell” rating in a research report on Friday, August 19th. Deutsche Bank AG decreased their target price on Staples from $9.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, August 18th. Morgan Stanley set a $10.00 target price on Staples and gave the stock a “hold” rating in a research report on Thursday, August 18th. Finally, Telsey Advisory Group boosted their target price on Staples from $8.00 to $9.00 and gave the stock a “market perform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Staples currently has a consensus rating of “Hold” and an average price target of $10.05.
Staples (NASDAQ:SPLS) traded up 2.89% during mid-day trading on Friday, hitting $9.60. 13,850,011 shares of the stock were exchanged. The stock’s market capitalization is $6.24 billion. Staples has a 12-month low of $7.24 and a 12-month high of $12.79. The firm has a 50-day moving average price of $7.92 and a 200-day moving average price of $8.60.
Staples (NASDAQ:SPLS) last announced its quarterly earnings data on Thursday, November 17th. The company reported $0.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.34. The firm earned $5.40 billion during the quarter, compared to analyst estimates of $5.40 billion. Staples had a positive return on equity of 11.20% and a negative net margin of 2.13%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. Equities analysts predict that Staples will post $0.89 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Mackenzie Financial Corp bought a new stake in shares of Staples during the second quarter worth about $100,000. Concert Wealth Management Inc. bought a new stake in shares of Staples during the second quarter worth about $103,000. Veritable L.P. bought a new stake in shares of Staples during the second quarter worth about $103,000. Lapides Asset Management LLC bought a new stake in shares of Staples during the second quarter worth about $106,000. Finally, Victory Capital Management Inc. boosted its stake in shares of Staples by 50.5% in the third quarter. Victory Capital Management Inc. now owns 12,417 shares of the company’s stock worth $106,000 after buying an additional 4,168 shares in the last quarter. Institutional investors own 87.50% of the company’s stock.
Staples Company Profile
Staples, Inc is a provider of products and services for business customers and consumers. The Company offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Company operates through three business segments, which include North American Stores & Online, North American Commercial and International Operations.
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