Staples, Inc. (NASDAQ:SPLS) has been given an average rating of “Hold” by the nine analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.85.

A number of brokerages recently commented on SPLS. Zacks Investment Research raised Staples from a “sell” rating to a “hold” rating in a report on Monday, May 15th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Staples in a report on Tuesday, May 16th. Telsey Advisory Group raised their price target on Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a report on Thursday, June 29th. BidaskClub cut Staples from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $9.00 price target on shares of Staples in a report on Wednesday, August 9th.

Staples (NASDAQ SPLS) traded up 0.10% during trading on Wednesday, reaching $10.24. The company had a trading volume of 10,493,180 shares. Staples has a one year low of $7.24 and a one year high of $10.25. The firm’s market capitalization is $6.72 billion. The firm’s 50-day moving average price is $10.19 and its 200 day moving average price is $9.52.

Staples (NASDAQ:SPLS) last announced its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.12. Staples had a positive return on equity of 15.09% and a negative net margin of 8.53%. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same period last year, the firm earned $0.12 EPS. Staples’s revenue for the quarter was down 3.1% compared to the same quarter last year. Equities analysts forecast that Staples will post $0.87 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Staples by 1.5% in the second quarter. Vanguard Group Inc. now owns 66,280,831 shares of the specialty retailer’s stock worth $667,448,000 after purchasing an additional 1,003,226 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Staples by 1.1% in the second quarter. BlackRock Inc. now owns 48,433,573 shares of the specialty retailer’s stock worth $487,727,000 after purchasing an additional 534,143 shares during the last quarter. FMR LLC increased its holdings in shares of Staples by 15.1% in the second quarter. FMR LLC now owns 35,888,851 shares of the specialty retailer’s stock worth $361,400,000 after purchasing an additional 4,708,987 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Staples by 9.8% in the first quarter. Schroder Investment Management Group now owns 33,605,835 shares of the specialty retailer’s stock worth $293,715,000 after purchasing an additional 2,985,904 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Staples by 1.4% in the first quarter. State Street Corp now owns 29,559,253 shares of the specialty retailer’s stock worth $259,230,000 after purchasing an additional 416,843 shares during the last quarter. 85.56% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Staples (NASDAQ:SPLS)

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