BidaskClub cut shares of Office Depot (NASDAQ:ODP) from a hold rating to a sell rating in a report released on Friday morning.

ODP has been the subject of a number of other research reports. Zacks Investment Research lowered Office Depot from a buy rating to a hold rating in a research note on Tuesday, July 17th. ValuEngine lowered Office Depot from a hold rating to a sell rating in a research note on Friday, August 10th. Finally, Bank of America reiterated a buy rating and issued a $4.00 target price on shares of Office Depot in a research note on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $3.75.

Office Depot stock opened at $2.69 on Friday. The stock has a market capitalization of $1.47 billion, a PE ratio of 5.98, a PEG ratio of 0.46 and a beta of 2.70. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77. Office Depot has a 12 month low of $2.00 and a 12 month high of $3.85.

Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Tuesday, August 7th. The specialty retailer reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Office Depot had a return on equity of 9.20% and a net margin of 0.91%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same period last year, the business posted $0.06 EPS. On average, equities analysts forecast that Office Depot will post 0.33 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the company. Aperio Group LLC grew its stake in shares of Office Depot by 6.0% in the third quarter. Aperio Group LLC now owns 368,107 shares of the specialty retailer’s stock valued at $1,182,000 after buying an additional 20,769 shares in the last quarter. State of Alaska Department of Revenue grew its stake in shares of Office Depot by 10.3% in the third quarter. State of Alaska Department of Revenue now owns 184,465 shares of the specialty retailer’s stock valued at $592,000 after buying an additional 17,265 shares in the last quarter. United Services Automobile Association grew its stake in shares of Office Depot by 59.8% in the second quarter. United Services Automobile Association now owns 769,535 shares of the specialty retailer’s stock valued at $1,962,000 after buying an additional 288,052 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Office Depot by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 10,311,717 shares of the specialty retailer’s stock valued at $26,295,000 after buying an additional 437,798 shares in the last quarter. Finally, Mutual Advisors LLC grew its stake in shares of Office Depot by 73.7% in the second quarter. Mutual Advisors LLC now owns 350,800 shares of the specialty retailer’s stock valued at $895,000 after buying an additional 148,800 shares in the last quarter. Institutional investors and hedge funds own 90.70% of the company’s stock.

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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