Other research analysts have also recently issued reports about the company. Sidoti began coverage on Office Depot in a research note on Thursday, April 30th. They set a buy rating on the stock. BidaskClub cut Office Depot from a strong-buy rating to a buy rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Office Depot has an average rating of Buy and an average target price of $16.00.
NASDAQ ODP opened at $21.89 on Thursday. The stock’s 50-day simple moving average is $24.04 and its two-hundred day simple moving average is $22.44. Office Depot has a twelve month low of $12.30 and a twelve month high of $29.90. The company has a quick ratio of 0.76, a current ratio of 1.15 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 0.72 and a beta of 2.31.
Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, May 6th. The specialty retailer reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.50. Office Depot had a return on equity of 11.98% and a net margin of 1.28%. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts expect that Office Depot will post 4.45 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Mason Street Advisors LLC grew its stake in shares of Office Depot by 2.6% in the fourth quarter. Mason Street Advisors LLC now owns 190,344 shares of the specialty retailer’s stock worth $522,000 after purchasing an additional 4,820 shares during the last quarter. Ancora Advisors LLC grew its stake in shares of Office Depot by 1.5% in the fourth quarter. Ancora Advisors LLC now owns 335,000 shares of the specialty retailer’s stock worth $918,000 after purchasing an additional 5,000 shares during the last quarter. World Asset Management Inc grew its stake in shares of Office Depot by 8.1% in the first quarter. World Asset Management Inc now owns 89,356 shares of the specialty retailer’s stock worth $147,000 after purchasing an additional 6,710 shares during the last quarter. Amalgamated Bank grew its stake in shares of Office Depot by 8.5% in the fourth quarter. Amalgamated Bank now owns 91,659 shares of the specialty retailer’s stock worth $251,000 after purchasing an additional 7,155 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Office Depot by 0.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,181,437 shares of the specialty retailer’s stock worth $3,577,000 after purchasing an additional 7,722 shares during the last quarter. 92.57% of the stock is currently owned by institutional investors.
Office Depot Company Profile
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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