Shares of Office Depot Inc (NASDAQ:ODP) have received a consensus rating of “Hold” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.25.

Several analysts have issued reports on the company. Zacks Investment Research lowered Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday. ValuEngine lowered Office Depot from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Bank of America reaffirmed a “buy” rating and issued a $4.50 price objective on shares of Office Depot in a research note on Thursday, February 28th. Finally, BidaskClub raised Office Depot from a “sell” rating to a “hold” rating in a research note on Thursday, February 7th.

Several hedge funds and other institutional investors have recently modified their holdings of ODP. Norges Bank bought a new position in Office Depot in the fourth quarter worth approximately $28,205,000. BlackRock Inc. grew its stake in Office Depot by 8.9% in the third quarter. BlackRock Inc. now owns 79,174,161 shares of the specialty retailer’s stock worth $254,151,000 after purchasing an additional 6,446,080 shares in the last quarter. LSV Asset Management grew its stake in Office Depot by 40.2% in the fourth quarter. LSV Asset Management now owns 22,481,392 shares of the specialty retailer’s stock worth $58,001,000 after purchasing an additional 6,442,475 shares in the last quarter. Marshall Wace LLP bought a new position in Office Depot in the third quarter worth approximately $13,575,000. Finally, WINTON GROUP Ltd bought a new position in Office Depot in the fourth quarter worth approximately $9,400,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.

NASDAQ:ODP traded up $0.05 during mid-day trading on Wednesday, hitting $2.63. 81,679 shares of the company traded hands, compared to its average volume of 5,979,557. Office Depot has a one year low of $2.00 and a one year high of $3.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.74 and a current ratio of 1.23. The firm has a market capitalization of $1.45 billion, a PE ratio of 7.51, a P/E/G ratio of 0.37 and a beta of 2.71.

Office Depot (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, February 27th. The specialty retailer reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Office Depot had a return on equity of 9.22% and a net margin of 0.94%. The business had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the company posted $0.08 earnings per share. Office Depot’s revenue for the quarter was up 3.4% on a year-over-year basis. Equities analysts forecast that Office Depot will post 0.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.025 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.10 annualized dividend and a dividend yield of 3.80%. Office Depot’s payout ratio is 28.57%.

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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