Telsey Advisory Group Increases Staples Inc. (SPLS) Price Target to $9.00
Staples Inc. (NASDAQ:SPLS) had its price target hoisted by research analysts at Telsey Advisory Group from $8.00 to $9.00 in a research report issued to clients and investors on Thursday. The firm presently has a “market perform” rating on the stock. Telsey Advisory Group’s target price would indicate a potential downside of 6.25% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Staples from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Jefferies Group reissued a “hold” rating and set a $9.00 target price on shares of Staples in a research note on Thursday, August 18th. Deutsche Bank AG lowered their target price on shares of Staples from $9.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, August 18th. Morgan Stanley set a $10.00 target price on shares of Staples and gave the stock a “hold” rating in a research note on Thursday, August 18th. Finally, Citigroup Inc. lowered their target price on shares of Staples from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.05.
Shares of Staples (NASDAQ:SPLS) opened at 9.60 on Thursday. The company’s market capitalization is $6.24 billion. Staples has a 52 week low of $7.24 and a 52 week high of $12.79. The firm’s 50-day moving average price is $7.90 and its 200 day moving average price is $8.59.
Staples (NASDAQ:SPLS) last posted its earnings results on Thursday, November 17th. The company reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. Staples had a negative net margin of 2.25% and a positive return on equity of 11.46%. The business had revenue of $5.40 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the company posted $0.35 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts predict that Staples will post $0.89 EPS for the current year.
Several hedge funds have recently made changes to their positions in SPLS. Adage Capital Partners GP L.L.C. increased its stake in shares of Staples by 53.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 624,100 shares of the company’s stock worth $6,884,000 after buying an additional 218,700 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Staples by 1.8% in the first quarter. Legal & General Group Plc now owns 3,430,882 shares of the company’s stock worth $37,837,000 after buying an additional 59,528 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Staples during the first quarter worth about $1,332,000. A.R.T. Advisors LLC purchased a new stake in shares of Staples during the first quarter worth about $3,105,000. Finally, LPL Financial LLC increased its stake in shares of Staples by 18.3% in the first quarter. LPL Financial LLC now owns 98,530 shares of the company’s stock worth $1,072,000 after buying an additional 15,274 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.
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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