Office Depot, Inc. (ODP) Raised to Hold at BidaskClub

BidaskClub upgraded shares of Office Depot, Inc. (NASDAQ:ODP) from a sell rating to a hold rating in a research note released on Saturday morning.

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Office Depot from a buy rating to a hold rating in a report on Tuesday, July 11th. Bank of America Corporation reissued a buy rating and issued a $6.00 price target on shares of Office Depot in a report on Tuesday, September 5th. Loop Capital reissued a hold rating and issued a $5.00 price target on shares of Office Depot in a report on Wednesday, July 12th. Deutsche Bank AG reissued a hold rating and issued a $5.00 price target (down from $5.75) on shares of Office Depot in a report on Thursday, August 10th. Finally, ValuEngine cut shares of Office Depot from a strong-buy rating to a buy rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Office Depot currently has a consensus rating of Hold and an average target price of $5.08.

Office Depot (NASDAQ ODP) opened at 3.84 on Friday. Office Depot has a 52 week low of $3.01 and a 52 week high of $6.26. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 4.97 and a beta of 2.89. The company’s 50-day moving average price is $4.28 and its 200 day moving average price is $4.98.

Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.44 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. On average, analysts predict that Office Depot will post $0.46 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Office Depot, Inc. (ODP) Raised to Hold at BidaskClub” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/10/office-depot-inc-odp-raised-to-hold-at-bidaskclub.html.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.10 annualized dividend and a dividend yield of 2.60%. Office Depot’s dividend payout ratio is presently 20.00%.

Several institutional investors and hedge funds have recently made changes to their positions in ODP. BlackRock Inc. increased its holdings in shares of Office Depot by 15,485.9% during the first quarter. BlackRock Inc. now owns 54,498,187 shares of the specialty retailer’s stock worth $254,234,000 after purchasing an additional 54,148,524 shares during the period. AJO LP increased its stake in Office Depot by 5,759.7% in the second quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock valued at $65,166,000 after acquiring an additional 11,357,003 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Office Depot by 28.7% in the first quarter. Dimensional Fund Advisors LP now owns 28,351,548 shares of the specialty retailer’s stock valued at $132,259,000 after acquiring an additional 6,324,791 shares during the last quarter. LSV Asset Management increased its stake in Office Depot by 125.9% in the second quarter. LSV Asset Management now owns 7,849,227 shares of the specialty retailer’s stock valued at $44,269,000 after acquiring an additional 4,374,431 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Office Depot by 72.2% in the second quarter. Prudential Financial Inc. now owns 9,999,340 shares of the specialty

Other research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Office Depot from a buy rating to a hold rating in a report on Tuesday, July 11th. Bank of America Corporation reissued a buy rating and issued a $6.00 price target on shares of Office Depot in a report on Tuesday, September 5th. Loop Capital reissued a hold rating and issued a $5.00 price target on shares of Office Depot in a report on Wednesday, July 12th. Deutsche Bank AG reissued a hold rating and issued a $5.00 price target (down from $5.75) on shares of Office Depot in a report on Thursday, August 10th. Finally, ValuEngine cut shares of Office Depot from a strong-buy rating to a buy rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Office Depot currently has a consensus rating of Hold and an average target price of $5.08.

Office Depot (NASDAQ ODP) opened at 3.84 on Friday. Office Depot has a 52 week low of $3.01 and a 52 week high of $6.26. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 4.97 and a beta of 2.89. The company’s 50-day moving average price is $4.28 and its 200 day moving average price is $4.98.

Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.03). The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.44 billion. Office Depot had a net margin of 2.49% and a return on equity of 13.97%. The firm’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. On average, analysts predict that Office Depot will post $0.46 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Office Depot, Inc. (ODP) Raised to Hold at BidaskClub” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/10/office-depot-inc-odp-raised-to-hold-at-bidaskclub.html.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.10 annualized dividend and a dividend yield of 2.60%. Office Depot’s dividend payout ratio is presently 20.00%.

Several institutional investors and hedge funds have recently made changes to their positions in ODP. BlackRock Inc. increased its holdings in shares of Office Depot by 15,485.9% during the first quarter. BlackRock Inc. now owns 54,498,187 shares of the specialty retailer’s stock worth $254,234,000 after purchasing an additional 54,148,524 shares during the period. AJO LP increased its stake in Office Depot by 5,759.7% in the second quarter. AJO LP now owns 11,554,182 shares of the specialty retailer’s stock valued at $65,166,000 after acquiring an additional 11,357,003 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Office Depot by 28.7% in the first quarter. Dimensional Fund Advisors LP now owns 28,351,548 shares of the specialty retailer’s stock valued at $132,259,000 after acquiring an additional 6,324,791 shares during the last quarter. LSV Asset Management increased its stake in Office Depot by 125.9% in the second quarter. LSV Asset Management now owns 7,849,227 shares of the specialty retailer’s stock valued at $44,269,000 after acquiring an additional 4,374,431 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Office Depot by 72.2% in the second quarter. Prudential Financial Inc. now owns 9,999,340 shares of the specialty retailer’s stock valued at $56,396,000 after acquiring an additional 4,192,720 shares during the last quarter. 94.06% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Office Depot (NASDAQ:ODP)

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