Office Depot (NASDAQ:ODP) Trading Down 1.1%

Shares of Office Depot Inc (NASDAQ:ODP) fell 1.1% during trading on Friday . The company traded as low as $1.81 and last traded at $1.85, 61,395 shares were traded during trading. A decline of 98% from the average session volume of 3,399,261 shares. The stock had previously closed at $1.87.

A number of brokerages recently commented on ODP. Zacks Investment Research cut shares of Office Depot from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. ValuEngine cut shares of Office Depot from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 8th. BidaskClub upgraded shares of Office Depot from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 29th. Finally, Bank of America cut shares of Office Depot from a “buy” rating to an “underperform” rating and dropped their price target for the company from $4.00 to $2.00 in a research note on Thursday, May 9th. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company. The company currently has a consensus rating of “Sell” and a consensus price target of $3.08.

The company has a debt-to-equity ratio of 0.87, a current ratio of 1.08 and a quick ratio of 0.76. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 5.50, a PEG ratio of 0.46 and a beta of 2.32. The stock has a 50 day moving average of $2.01.

Office Depot (NASDAQ:ODP) last posted its earnings results on Wednesday, May 8th. The specialty retailer reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Office Depot had a net margin of 0.64% and a return on equity of 8.95%. The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the company posted $0.08 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that Office Depot Inc will post 0.34 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Everence Capital Management Inc. lifted its stake in Office Depot by 88.5% in the 1st quarter. Everence Capital Management Inc. now owns 76,770 shares of the specialty retailer’s stock worth $279,000 after purchasing an additional 36,040 shares in the last quarter. Millennium Management LLC raised its position in shares of Office Depot by 20.2% during the 4th quarter. Millennium Management LLC now owns 5,067,953 shares of the specialty retailer’s stock valued at $13,075,000 after buying an additional 853,306 shares in the last quarter. Bank of America Corp DE raised its position in shares of Office Depot by 61.5% during the 4th quarter. Bank of America Corp DE now owns 1,666,952 shares of the specialty retailer’s stock valued at $4,301,000 after buying an additional 635,019 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Office Depot by 107.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,982,865 shares of the specialty retailer’s stock valued at $7,198,000 after buying an additional 1,028,172 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in shares of Office Depot by 1,871.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 489,017 shares of the specialty retailer’s stock valued at $1,262,000 after buying an additional 464,217 shares in the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.

Office Depot Company Profile (NASDAQ:ODP)

Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.

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