The stock of Staples, Inc. (NASDAQ:SPLS) hit a new 52-week low and has $6.77 target or 8.00% below today’s $7.36 share price. The 9 months bearish chart indicates high risk for the $4.72 billion company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $6.77 price target is reached, the company will be worth $377.60 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. The stock increased 0.82% or $0.06 during the last trading session, hitting $7.36. About 7.53M shares traded hands. Staples, Inc. (NASDAQ:SPLS) has declined 33.82% since March 31, 2016 and is downtrending. It has underperformed by 36.34% 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 upgraded by Bank of America on Monday, May 23 to “Buy”. Citigroup maintained Staples, Inc. (NASDAQ:SPLS) rating on Monday, August 24. Citigroup has “Neutral” rating and $15 price target. The stock of Staples, Inc. (NASDAQ:SPLS) has “Neutral” rating given on Monday, March 7 by Goldman Sachs. Telsey Advisory Group maintained Staples, Inc. (NASDAQ:SPLS) on Wednesday, May 11 with “Market Perform” rating. Telsey Advisory Group downgraded Staples, Inc. (NASDAQ:SPLS) on Tuesday, December 8 to “Market Perform” rating. The firm has “Sector Weight” rating given on Tuesday, December 8 by KeyBanc Capital Markets. The rating was maintained by Citigroup with “Neutral” on Friday, May 20. The firm has “Neutral” rating by UBS given on Wednesday, May 11. The rating was upgraded by Evercore to “Hold” on Thursday, July 30. The firm has “Buy” rating by Jefferies given on Monday, March 7.
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 fall, 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.
Bluecrest Capital Mgmt Limited reported 63,360 shares or 0.02% of all its holdings. The California-based Blackrock Institutional Tru Na has invested 0.03% in Staples, Inc. (NASDAQ:SPLS). Vanguard Group last reported 57.65 million shares in the company. Moreover, Metropolitan Life Ny has 0.02% invested in Staples, Inc. (NASDAQ:SPLS) for 336,914 shares. Us Comml Bank De, a Minnesota-based fund reported 292,378 shares. Blackrock Inv Mgmt Ltd Com holds 0.02% of its portfolio in Staples, Inc. (NASDAQ:SPLS) for 1.62 million shares. Symons Cap Mgmt reported 875,090 shares or 1.75% of all its holdings. Credit Suisse Ag last reported 0.01% of its portfolio in the stock. Hanlon Investment Mngmt has invested 0.42% of its portfolio in Staples, Inc. (NASDAQ:SPLS). Huntington Fincl Bank last reported 0% of its portfolio in the stock. Blackrock Fund Advsr has 14.35 million shares for 0.03% of their US portfolio. Dumont & Blake Investment Advsrs Ltd Liability accumulated 0.41% or 71,197 shares. Henderson Gp Public Ltd Llc accumulated 100,120 shares or 0.01% of the stock. Verition Fund Mngmt Ltd Liability holds 0.02% or 14,715 shares in its portfolio. Axa has 0.03% invested in the company for 876,224 shares.
Insider Transactions: Since June 30, 2016, the stock had 1 buying transaction, and 1 insider sale for $105,797 net activity. Williams Michael sold $107,065 worth of Staples, Inc. (NASDAQ:SPLS) on Thursday, June 30. Ferrand Paul-Henri also bought $1,268 worth of Staples, Inc. (NASDAQ:SPLS) shares.
More news for Staples, Inc. (NASDAQ:SPLS) were recently published by: Businesswire.com, which released: “Staples Implements New Student Loan Repayment Plan for Sales Associates and …” on November 01, 2016. Forbes.com‘s article titled: “Staples Becomes Oversold” and published on October 13, 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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