The stock of Staples, Inc. (NASDAQ:SPLS) hit a new 52-week low and has $7.16 target or 7.00% below today’s $7.70 share price. The 6 months bearish chart indicates high risk for the $5.04B company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $7.16 price target is reached, the company will be worth $352.80 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 3.50 million shares traded hands. Staples, Inc. (NASDAQ:SPLS) has declined 18.07% since March 10, 2016 and is downtrending. It has underperformed by 25.59% the S&P500.
Staples, Inc. (NASDAQ:SPLS) Ratings Coverage
Out of 10 analysts covering Staples Inc. (NASDAQ:SPLS), 1 rate it a “Buy”, 0 “Sell”, while 9 “Hold”. This means 10% are positive. Staples Inc. has been the topic of 17 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm earned “Hold” rating on Thursday, November 19 by Deutsche Bank. Telsey Advisory Group maintained Staples, Inc. (NASDAQ:SPLS) rating on Wednesday, May 11. Telsey Advisory Group has “Market Perform” rating and $8 price target. The stock has “Neutral” rating given by Jefferies on Wednesday, May 11. The stock of Staples, Inc. (NASDAQ:SPLS) has “Buy” rating given on Monday, March 7 by Jefferies. The firm earned “Sell” rating on Wednesday, August 12 by Zacks. The stock of Staples, Inc. (NASDAQ:SPLS) has “Underperform” rating given on Friday, December 11 by Bank of America. The firm earned “Hold” rating on Monday, March 7 by Deutsche Bank. The stock of Staples, Inc. (NASDAQ:SPLS) earned “Market Perform” rating by Telsey Advisory Group on Tuesday, December 8. The rating was downgraded by UBS to “Neutral” on Wednesday, May 11. The rating was maintained by Citigroup with “Neutral” on Monday, August 24.
According to Zacks Investment Research, “Staples.com is creating a leading business-to-business electronic marketplace offering a comprehensive solution for all of the office needs of business customers. Staples.com provides an electronic marketplace where small, mid-sized and large businesses can procure office products and business services and obtain business information and expert content. Staples.com includes the operations of all three of Staples Inc.’s e-commerce sites: Staples.com, Quillcorp.com and StaplesLink.com. (PRESS RELEASE)”
Insitutional Activity: The institutional sentiment decreased to 1.12 in Q2 2016. Its down 0.03, from 1.15 in 2016Q1. The ratio worsened, as 67 funds sold all Staples, Inc. shares owned while 131 reduced positions. 57 funds bought stakes while 164 increased positions. They now own 539.26 million shares or 7.39% less from 582.27 million shares in 2016Q1.
Morgan Dempsey Capital Management Ltd Liability Corp last reported 173 shares in the company. Nuveen Asset Management Ltd last reported 41,333 shares in the company. Wells Fargo And Co Mn last reported 0.01% of its portfolio in the stock. Schwab Charles Invest has 0.04% invested in the company for 4.00M shares. Continental Ltd Limited Liability Company accumulated 0.29% or 108,800 shares. State Of Tennessee Treasury Department holds 0.01% or 233,415 shares in its portfolio. Huntington Retail Bank owns 3,962 shares or 0% of their US portfolio. Dnb Asset Mgmt As has invested 0% of its portfolio in Staples, Inc. (NASDAQ:SPLS). Veritable Lp holds 0% or 11,965 shares in its portfolio. Ing Groep Nv owns 176,997 shares or 0.02% of their US portfolio. Scotia Capital Incorporated holds 0.04% or 204,719 shares in its portfolio. Duncker Streett & holds 0% of its portfolio in Staples, Inc. (NASDAQ:SPLS) for 1,350 shares. Livforsakringsbolaget Skandia Omsesidigt has 0.03% invested in the company for 81,551 shares. Sib Ltd, a New York-based fund reported 119,802 shares. Financial Bank Of New York Mellon Corp has 0.09% invested in the company for 35.89 million shares.
Insider Transactions: Since June 30, 2016, the stock had 1 insider buy, and 1 sale for $105,797 net activity. Ferrand Paul-Henri also bought $1,268 worth of Staples, Inc. (NASDAQ:SPLS) on Thursday, July 14. On Thursday, June 30 the insider Williams Michael sold $107,065.
More news for Staples, Inc. (NASDAQ:SPLS) were recently published by: Forbes.com, which released: “Staples Becomes Oversold” on October 13, 2016. Telegram.com‘s article titled: “Goodman named president of Staples Inc.” and published on September 26, 2016 is yet another important article.
SPLS Company Profile
Staples, Inc. (Staples), incorporated on January 23, 1986, is a well-known provider of services and products for business clients and consumers. The Firm offers a selection of products, Websites and mobile platforms, and a range of copy, print and technology services. The Firm operates through three business divisions, which include North American Stores & Online, North American Commercial and International Operations. The Firm serves businesses of all sizes and clients in North America, Europe, Australia, South America and Asia. The Company’s delivery business enables clients to place their orders online.
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