Staples Inc. (SPLS) Sees Unusually-High Trading Volume
Shares of Staples Inc. (NASDAQ:SPLS) saw unusually-strong trading volume on Thursday . Approximately 9,175,523 shares were traded during trading, an increase of 54% from the previous session’s volume of 5,960,841 shares.The stock last traded at $8.42 and had previously closed at $8.67.
A number of analysts recently commented on SPLS shares. Vetr reiterated a “hold” rating and set a $10.53 price target on shares of Staples in a report on Friday, April 22nd. Zacks Investment Research lowered Staples from a “hold” rating to a “sell” rating in a report on Wednesday, May 4th. Telsey Advisory Group lifted their price target on Staples from $8.00 to $10.00 and gave the stock a “market perform” rating in a report on Wednesday, May 11th. Jefferies Group lowered Staples from a “buy” rating to a “hold” rating and set a $9.00 price target on the stock. in a report on Wednesday, May 11th. Finally, Wells Fargo & Co. reiterated an “equal weight” rating on shares of Staples in a report on Sunday, May 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Staples has an average rating of “Hold” and a consensus price target of $11.27.
The stock’s 50 day moving average is $9.01 and its 200-day moving average is $9.40. The firm has a market capitalization of $5.44 billion and a P/E ratio of 15.04.
Staples (NASDAQ:SPLS) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. During the same period last year, the firm earned $0.12 earnings per share. The company had revenue of $4.80 billion for the quarter, compared to analysts’ expectations of $4.78 billion. Staples’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts expect that Staples Inc. will post $0.90 EPS for the current fiscal year.
In other news, General Counsel Michael Williams sold 12,458 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $8.59, for a total transaction of $107,014.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Other large investors recently made changes to their positions in the company. American International Group Inc. raised its stake in shares of Staples by 8.2% in the fourth quarter. American International Group Inc. now owns 26,554,252 shares of the company’s stock worth $251,468,000 after buying an additional 2,018,462 shares during the period. Dimensional Fund Advisors LP increased its position in Staples by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,497,048 shares of the company’s stock worth $52,060,000 after buying an additional 316,995 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Staples by 8.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 348,424 shares of the company’s stock worth $3,300,000 after buying an additional 25,910 shares in the last quarter. I.G. Investment Management LTD. increased its position in Staples by 68.0% in the fourth quarter. I.G. Investment Management LTD. now owns 259,807 shares of the company’s stock worth $2,460,000 after buying an additional 105,200 shares in the last quarter. Finally, Marshall Wace LLP increased its position in Staples by 151.0% in the fourth quarter. Marshall Wace LLP now owns 482,843 shares of the company’s stock worth $4,573,000 after buying an additional 290,501 shares in the last quarter.
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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