Office Depot (NASDAQ:ODP) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Sunday, December 31st.
A number of other equities analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. JPMorgan Chase & Co. downgraded shares of Office Depot from a “neutral” rating to an “underweight” rating in a research note on Monday, October 30th. BidaskClub upgraded shares of Office Depot from a “sell” rating to a “hold” rating in a research note on Saturday, October 7th. Jefferies Group reiterated a “hold” rating and set a $4.15 price objective (down from $5.00) on shares of Office Depot in a research note on Friday, October 6th. Finally, Bank of America reiterated a “buy” rating and set a $6.00 price objective on shares of Office Depot in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $5.08.
Office Depot (NASDAQ ODP) opened at $3.59 on Friday. The firm has a market cap of $1,850.00, a price-to-earnings ratio of 7.64, a P/E/G ratio of 0.58 and a beta of 2.86. The company has a quick ratio of 0.93, a current ratio of 1.52 and a debt-to-equity ratio of 0.51. Office Depot has a 1-year low of $2.97 and a 1-year high of $6.26.
Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Thursday, November 9th. The specialty retailer reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. Office Depot had a net margin of 3.00% and a return on equity of 12.86%. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s revenue was down 7.6% on a year-over-year basis. analysts expect that Office Depot will post 0.44 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Office Depot by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 44,341,527 shares of the specialty retailer’s stock valued at $250,086,000 after acquiring an additional 1,286,833 shares during the period. Dimensional Fund Advisors LP increased its stake in Office Depot by 8.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 36,937,250 shares of the specialty retailer’s stock worth $167,696,000 after buying an additional 2,908,017 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in Office Depot by 16.6% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 30,237,692 shares of the specialty retailer’s stock worth $137,279,000 after buying an additional 4,305,079 shares during the period. State Street Corp increased its position in shares of Office Depot by 2.1% in the 2nd quarter. State Street Corp now owns 18,758,006 shares of the specialty retailer’s stock valued at $105,796,000 after purchasing an additional 384,531 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Office Depot by 7.5% in the 2nd quarter. Northern Trust Corp now owns 13,355,039 shares of the specialty retailer’s stock valued at $75,322,000 after purchasing an additional 932,852 shares during the last quarter. Institutional investors own 93.12% of the company’s stock.
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About Office Depot
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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