Office Depot (NASDAQ:ODP) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
A number of other research firms have also recently weighed in on ODP. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. ValuEngine cut Office Depot from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Jefferies Group reaffirmed a “hold” rating on shares of Office Depot in a research report on Thursday, March 1st. Telsey Advisory Group reaffirmed a “market perform” rating on shares of Office Depot in a research report on Wednesday, May 16th. Finally, Bank of America reaffirmed a “buy” rating and set a $3.00 price objective on shares of Office Depot in a research report on Thursday, May 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $3.93.
Shares of Office Depot traded up $0.02, reaching $2.33, during trading hours on Friday, according to MarketBeat. The stock had a trading volume of 53,718 shares, compared to its average volume of 5,176,137. The stock has a market cap of $1.29 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.42 and a beta of 2.67. The company has a quick ratio of 0.90, a current ratio of 1.39 and a debt-to-equity ratio of 0.78. Office Depot has a fifty-two week low of $2.00 and a fifty-two week high of $6.26.
Office Depot (NASDAQ:ODP) last announced its earnings results on Wednesday, May 9th. The specialty retailer reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The firm had revenue of $2.83 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Office Depot had a return on equity of 9.60% and a net margin of 1.01%. The business’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.16 EPS. sell-side analysts anticipate that Office Depot will post 0.32 earnings per share for the current year.
Several hedge funds have recently modified their holdings of ODP. Lee Thomas H Partners LP purchased a new position in shares of Office Depot during the 4th quarter worth approximately $150,438,000. Towle & Co. purchased a new position in shares of Office Depot during the 1st quarter worth approximately $24,235,000. Glenhill Advisors LLC purchased a new position in shares of Office Depot during the 4th quarter worth approximately $24,793,000. Guggenheim Capital LLC raised its stake in shares of Office Depot by 188.5% during the 4th quarter. Guggenheim Capital LLC now owns 1,961,327 shares of the specialty retailer’s stock worth $6,942,000 after buying an additional 1,281,525 shares in the last quarter. Finally, Aristotle Fund L.P. raised its stake in shares of Office Depot by 21.7% during the 1st quarter. Aristotle Fund L.P. now owns 5,243,000 shares of the specialty retailer’s stock worth $11,272,000 after buying an additional 935,000 shares in the last quarter. 89.89% 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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