Office Depot (NASDAQ:ODP) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday, February 4th.
A number of other equities research analysts have also recently weighed in on the company. BidaskClub raised Office Depot from a “strong sell” rating to a “sell” rating in a research note on Friday, January 4th. Bank of America set a $5.00 price objective on Office Depot and gave the company a “buy” rating in a research note on Wednesday, November 7th. Zacks Investment Research cut Office Depot from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, Deutsche Bank set a $4.00 target price on Office Depot and gave the stock a “hold” rating in a research note on Thursday, November 8th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Office Depot has an average rating of “Hold” and a consensus price target of $3.92.
NASDAQ ODP opened at $3.56 on Monday. The company has a market capitalization of $1.83 billion, a PE ratio of 10.17 and a beta of 2.61. Office Depot has a 1-year low of $2.00 and a 1-year high of $3.68. The company has a current ratio of 1.35, a quick ratio of 0.89 and a debt-to-equity ratio of 0.75.
Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, February 27th. The specialty retailer reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. Office Depot had a return on equity of 8.90% and a net margin of 0.59%. The firm had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the business posted $0.08 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. On average, research analysts predict that Office Depot will post 0.4 earnings per share for the current fiscal year.
Office Depot announced that its board has authorized a stock buyback plan on Tuesday, November 20th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the specialty retailer to repurchase up to 6.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
Institutional investors have recently bought and sold shares of the company. Scotia Capital Inc. purchased a new stake in Office Depot during the 4th quarter valued at approximately $33,000. Alambic Investment Management L.P. acquired a new position in Office Depot during the 4th quarter worth approximately $36,000. FNY Investment Advisers LLC acquired a new position in Office Depot during the 4th quarter worth approximately $41,000. HRT Financial LLC acquired a new position in Office Depot during the 4th quarter worth approximately $50,000. Finally, Actinver Wealth Management Inc. acquired a new position in Office Depot during the 4th quarter worth approximately $63,000. 90.49% of the stock is owned by institutional investors and hedge funds.
Office Depot Company Profile
Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.
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