Staples Receives a Hold from Telsey Advisory

By Ryan Adsit

Telsey Advisory analyst Joe Feldman reiterated a Hold rating on Staples (NASDAQ: SPLS) today and set a price target of $9. The company’s shares opened today at $8.83.

According to TipRanks.com, Feldman is a 3-star analyst with an average return of 1.8% and a 54.8% success rate. Feldman covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Michaels Companies, and Bed Bath & Beyond.

Currently, the analyst consensus on Staples is Hold and the average price target is $8.67, representing a -1.8% downside.

In a report issued on November 10, Oppenheimer also assigned a Hold rating to the stock.

The company has a one year high of $12.79 and a one year low of $7.24. Currently, Staples has an average volume of 7.69M.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2015, Shira Goodman, the President of SPLS bought 5,100 shares for a total of $49,419.

Staples, Inc. engages in the provision of office supplies retail. It offers a range of products of copy and print and technologies through an integrated retail and online shopping. It operates through the following segments: North American Stores and Online, North American Commercial, and International Operations. The North American Stores and Online segment includes the company’s retail stores and Staples.com businesses in the U.S. and Canada. The North American Commercial segment consists of the U.S. and Canadian businesses that sell and deliver products and services directly to businesses, including Staples Advantage and Quill.com. The International Operations segment covers operations in twenty three countries in Europe, Australia, South America, and Asia. The company was founded by Thomas G. Stemberg in 1985 and is headquartered in Framingham, MA.