Oppenheimer Reiterates a Hold Rating on Staples

By Carrie Williams

In a report released today, Brian Nagel from Oppenheimer reiterated a Hold rating on Staples (NASDAQ: SPLS). The company’s shares opened today at $8.38.

According to TipRanks.com, Nagel is a 4-star analyst with an average return of 2.2% and a 53.5% success rate. Nagel covers the Services sector, focusing on stocks such as Restoration Hardware Holdings Inc, Dick’s Sporting Goods, and Advance Auto Parts.

Staples has an analyst consensus of Hold.

Based on Staples’ latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $5.36 billion and quarterly net profit of $179 million. In comparison, last year the company earned revenue of $5.27 billion and had a net profit of $86 million.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SPLS in relation to earlier this year. Most recently, in December 2016, Conte Mark, the SVP Corporate Controller of SPLS sold 5,195 shares for a total of $51,794.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.