Stock On Watch: Staples, Inc. Sets 52-Week Low; Strong Momentum for Sellers

Stock On Watch: Staples, Inc. Sets 52 Week Low; Strong Momentum for Sellers

The stock of Staples, Inc. (NASDAQ:SPLS) hit a new 52-week low and has $6.87 target or 8.00% below today’s $7.47 share price. The 6 months bearish chart indicates high risk for the $4.80B company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $6.87 price target is reached, the company will be worth $384.00M 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 3.88M shares traded hands. Staples, Inc. (NASDAQ:SPLS) has declined 21.66% since March 14, 2016 and is downtrending. It has underperformed by 27.27% 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 rating was downgraded by Telsey Advisory Group to “Market Perform” on Tuesday, December 8. The firm has “Hold” rating by Deutsche Bank given on Sunday, August 23. Bank of America upgraded the shares of SPLS in a report on Monday, May 23 to “Buy” rating. Citigroup maintained Staples, Inc. (NASDAQ:SPLS) on Friday, May 20 with “Neutral” rating. KeyBanc Capital Markets downgraded the stock to “Sector Weight” rating in Tuesday, December 8 report. Deutsche Bank maintained Staples, Inc. (NASDAQ:SPLS) on Thursday, November 19 with “Hold” rating. As per Monday, March 7, the company rating was maintained by Goldman Sachs. Jefferies downgraded Staples, Inc. (NASDAQ:SPLS) on Wednesday, May 11 to “Neutral” rating. The rating was maintained by Citigroup on Monday, August 24 with “Neutral”. Jefferies maintained Staples, Inc. (NASDAQ:SPLS) on Monday, March 7 with “Buy” rating.

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 2016 Q2. Its down 0.03, from 1.15 in 2016Q1. The ratio dived, 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.
Greenwich Wealth Management Ltd holds 0% or 87,725 shares in its portfolio. Pacad Investment Limited last reported 40,300 shares in the company. Bonness Enter Incorporated last reported 130,500 shares in the company. Zweig holds 17,000 shares or 0.02% of its portfolio. State Bank Of Montreal Can holds 1.22 million shares or 0.01% of its portfolio. Symons Incorporated holds 875,090 shares or 1.75% of its portfolio. Fincl Architects Inc holds 0.01% of its portfolio in Staples, Inc. (NASDAQ:SPLS) for 3,400 shares. Princeton Alpha Management L P holds 110,848 shares or 0.17% of its portfolio. Dimensional Fund Advisors Limited Partnership has 0.04% invested in the company for 7.17 million shares. Paloma Prtn Management holds 0.06% or 590,837 shares in its portfolio. Andra Ap reported 373,800 shares or 0.08% of all its holdings. Vident Investment Advisory Ltd Com holds 0.28% or 229,248 shares in its portfolio. Shell Asset, a Netherlands-based fund reported 29,929 shares. Becker Capital Mngmt Incorporated, a Oregon-based fund reported 320,442 shares. Credit Agricole S A last reported 151,596 shares in the company.

Insider Transactions: Since June 30, 2016, the stock had 1 insider purchase, and 1 sale for $105,797 net activity. Ferrand Paul-Henri bought $1,268 worth of stock or 139 shares. Williams Michael also sold $107,065 worth of Staples, Inc. (NASDAQ:SPLS) on Thursday, June 30.

More recent Staples, Inc. (NASDAQ:SPLS) news were published by: Forbes.com which released: “Staples Becomes Oversold” on October 13, 2016. Also Telegram.com published the news titled: “Goodman named president of Staples Inc.” on September 26, 2016. Marketwired.com‘s news article titled: “Staples Business Advantage Canada Launches Charity Make Over Contest” with publication date: October 17, 2016 was also an interesting one.

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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