Traders purchased shares of Staples, Inc. (NASDAQ:SPLS) on weakness during trading hours on Thursday. $113.27 million flowed into the stock on the tick-up and $28.08 million flowed out of the stock on the tick-down, for a money net flow of $85.19 million into the stock. Of all stocks tracked, Staples had the 4th highest net in-flow for the day. Staples traded down ($0.01) for the day and closed at $10.23

SPLS has been the topic of several recent research reports. Zacks Investment Research upgraded Staples from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Deutsche Bank AG set a $8.00 target price on Staples and gave the stock a “hold” rating in a report on Thursday, June 22nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Staples in a report on Tuesday, June 20th. Loop Capital reiterated a “hold” rating and issued a $5.00 price objective on shares of Staples in a report on Friday, May 19th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $9.00 price objective on shares of Staples in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.04.

The firm’s market cap is $6.72 billion. The company’s 50-day moving average price is $10.18 and its 200-day moving average price is $9.51.

Staples (NASDAQ:SPLS) last released its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Staples had a net margin of 1.61% and a return on equity of 7.49%. Staples’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 EPS. On average, equities analysts anticipate that Staples, Inc. will post $0.87 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in SPLS. Mn Services Vermogensbeheer B.V. grew its stake in Staples by 5.8% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 16,878 shares of the specialty retailer’s stock worth $138,000 after acquiring an additional 930 shares during the period. ProShare Advisors LLC grew its stake in Staples by 29.1% in the 1st quarter. ProShare Advisors LLC now owns 157,272 shares of the specialty retailer’s stock worth $1,379,000 after acquiring an additional 35,438 shares during the period. Russell Investments Group Ltd. grew its stake in Staples by 39.8% in the 1st quarter. Russell Investments Group Ltd. now owns 620,571 shares of the specialty retailer’s stock worth $5,443,000 after acquiring an additional 176,666 shares during the period. Sumitomo Mitsui Asset Management Company LTD grew its stake in Staples by 12.5% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 56,700 shares of the specialty retailer’s stock worth $497,000 after acquiring an additional 6,318 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Staples by 4.4% in the 1st quarter. Wells Fargo & Company MN now owns 2,647,495 shares of the specialty retailer’s stock worth $23,218,000 after acquiring an additional 111,653 shares during the period. 85.56% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Traders Buy Shares of Staples, Inc. (SPLS) on Weakness” was posted by Daily Political and is the property of of Daily Political. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.dailypolitical.com/2017/09/07/traders-buy-shares-of-staples-inc-spls-on-weakness.html.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.