Investors Buy Staples, Inc. (SPLS) on Weakness
Investors bought 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 companies 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
A number of research analysts have recently issued reports on the stock. Jefferies Group LLC restated a “hold” rating and issued a $9.00 price target on shares of Staples in a research report on Wednesday, August 9th. BidaskClub lowered shares of Staples from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 17th. Zacks Investment Research lowered shares of Staples from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Loop Capital restated a “hold” rating and set a $5.00 price target on shares of Staples in a research note on Friday, May 19th. Finally, Telsey Advisory Group boosted their price target on shares of Staples from $9.00 to $10.25 and gave the company a “market perform” rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. Staples has a consensus rating of “Hold” and a consensus price target of $9.04.
The firm has a 50-day moving average of $10.19 and a 200-day moving average of $9.52. The company’s market cap is $6.72 billion.
Staples (NASDAQ:SPLS) last released its earnings results on Thursday, August 24th. The specialty retailer reported $0.12 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.87 billion. Staples had a positive return on equity of 15.09% and a negative net margin of 8.53%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. On average, equities analysts anticipate that Staples, Inc. will post $0.87 EPS for the current year.
A number of institutional investors have recently made changes to their positions in SPLS. Stephens Inc. AR lifted its holdings in shares of Staples by 6.8% in the 1st quarter. Stephens Inc. AR now owns 11,640 shares of the specialty retailer’s stock worth $102,000 after buying an additional 744 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Staples during the 1st quarter worth $102,000. Ballentine Partners LLC lifted its stake in shares of Staples by 0.5% during the 2nd quarter. Ballentine Partners LLC now owns 10,304 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 50 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its stake in shares of Staples by 13.9% during the 1st quarter. Cutter & CO Brokerage Inc. now owns 12,300 shares of the specialty retailer’s stock worth $108,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Concert Wealth Management Inc. lifted its stake in shares of Staples by 0.7% during the 1st quarter. Concert Wealth Management Inc. now owns 12,065 shares of the specialty retailer’s stock worth $109,000 after purchasing an additional 82 shares during the last quarter. 85.56% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Investors Buy Staples, Inc. (SPLS) on Weakness” was first published by Daily Political and is the property of of Daily Political. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.dailypolitical.com/2017/09/09/investors-buy-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.