Staples Receives a Hold from Jefferies

By Carrie Williams

Jefferies analyst Daniel Binder reiterated a Hold rating on Staples (NASDAQ: SPLS) yesterday and set a price target of $9. The company’s shares opened today at $9.33.

Binder commented:

“Q3 EPS was in line, though Street estimates were at the high end of new Q4 guidance range. Sales were a bit light of expectations, but margins were better. As telegraphed last quarter, SPLS acquired an independent dealer with over $100 million in revenue as it focuses on mid-market.”

According to, Binder is a 4-star analyst with an average return of 2.7% and a 56.2% success rate. Binder covers the Services sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, United Stationers Inc., and Container Store Group.

Currently, the analyst consensus on Staples is Hold and the average price target is $8.50, representing a -8.9% downside.

In a report released yesterday, Telsey Advisory also reiterated a Hold rating on the stock with a $9 price target.

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 7.78M.

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 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 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.