Shares of Office Depot, Inc. (NASDAQ:ODP) have been assigned an average recommendation of “Hold” from the ten analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.08.
A number of brokerages have commented on ODP. BidaskClub lowered Office Depot from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Loop Capital reiterated a “hold” rating and set a $5.00 price target on shares of Office Depot in a report on Wednesday, July 12th. Zacks Investment Research lowered Office Depot from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Bank of America Corporation reiterated a “buy” rating on shares of Office Depot in a report on Sunday, August 13th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $5.00 price target (down from $5.75) on shares of Office Depot in a report on Thursday, August 10th.
Office Depot (NASDAQ ODP) traded up $0.11 during mid-day trading on Wednesday, hitting $3.23. The stock had a trading volume of 3,582,382 shares, compared to its average volume of 5,963,372. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 6.51, a PEG ratio of 0.99 and a beta of 2.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.59 and a quick ratio of 0.92.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). Office Depot had a return on equity of 13.97% and a net margin of 2.49%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the business posted $0.06 earnings per share. The company’s revenue was down 8.5% compared to the same quarter last year. equities analysts predict that Office Depot will post 0.44 EPS for the current year.
In related news, insider Michael R. Allison sold 360,000 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $3.83, for a total value of $1,378,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.43% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of ODP. Nomura Asset Management Co. Ltd. lifted its holdings in Office Depot by 33.3% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock worth $101,000 after purchasing an additional 5,400 shares during the last quarter. Pacad Investment Ltd. lifted its holdings in Office Depot by 1,292.3% in the 2nd quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock worth $102,000 after purchasing an additional 16,800 shares during the last quarter. Eagle Global Advisors LLC acquired a new stake in Office Depot in the 2nd quarter worth approximately $103,000. PNC Financial Services Group Inc. lifted its holdings in Office Depot by 13.4% in the 2nd quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock worth $104,000 after purchasing an additional 2,187 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Office Depot in the 2nd quarter worth approximately $105,000. Hedge funds and other institutional investors own 94.89% of the company’s stock.
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Office Depot Company Profile
Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.
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