Staples (SPLS) was Downgraded by Jefferies to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on May 11, 2016.
Many Wall Street Analysts have commented on Staples. Shares were Reiterated by Telsey Advisory Group on May 11, 2016 to “Market Perform” and Lowered the Price Target to $ 8 from a previous price target of $10 .Shares were Reiterated by Deutsche Bank on Mar 7, 2016 to “Hold” and Lowered the Price Target to $ 10 from a previous price target of $11 .
On the company’s financial health, Staples reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Mar 4, 2016. Analyst had a consensus of $0.28. The company had revenue of $5268.00 million for the quarter, compared to analysts expectations of $5411.80 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.31 EPS.
Staples opened for trading at $10.36 and hit $10.42 on the upside on Tuesday, eventually ending the session at $10.36, with a gain of 0.58% or 0.06 points. The heightened volatility saw the trading volume jump to 78,35,650 shares. Company has a market cap of $6,690 M.
In a different news, on Dec 16, 2015, Shira Goodman (President, NAC) purchased 5,100 shares at $9.69 per share price.
Staples Inc. is a provider of products and services that serve the needs of business customers and consumers. The Company offers a selection of products such as Websites and mobile platforms retail and online shopping and a range of copy and print and technology services. It operates in three business segments: North American Stores & Online North American Commercial and International Operations. The North American Stores & Online segment includes its retail stores and Staples.com businesses in the United States and Canada. The North American Commercial segment consists of the United States and Canadian businesses that sell and deliver products and services directly to businesses including Staples Advantage and Quill.com. The International Operations segment consists of businesses in around 23 countries in Europe Australia South America and Asia. It serves businesses in North America Europe Australia South America and Asia. Its delivery business offers online order placing.