Office Depot (ODP) Stock Rating Lowered by BidaskClub
BidaskClub downgraded shares of Office Depot (NASDAQ:ODP) from a sell rating to a strong sell rating in a report issued on Friday.
Several other equities research analysts have also commented on ODP. Zacks Investment Research upgraded Office Depot from a sell rating to a hold rating in a research note on Tuesday, December 5th. ValuEngine lowered Office Depot from a buy rating to a hold rating in a research note on Sunday, December 31st. Finally, Jefferies Group restated a hold rating on shares of Office Depot in a research note on Thursday. Two analysts have rated the stock with a sell rating, seven 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 $5.08.
Shares of Office Depot (NASDAQ ODP) traded up $0.10 during trading hours on Friday, reaching $2.51. The company’s stock had a trading volume of 11,582,706 shares, compared to its average volume of 5,252,176. The firm has a market capitalization of $1,336.32, a price-to-earnings ratio of 7.38, a PEG ratio of 0.69 and a beta of 2.55. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.40 and a quick ratio of 0.93. Office Depot has a 12 month low of $2.27 and a 12 month high of $6.26.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, March 2nd will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Thursday, March 1st. Office Depot’s payout ratio is 29.41%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. boosted its position in shares of Office Depot by 718.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 32,362 shares of the specialty retailer’s stock worth $115,000 after buying an additional 28,406 shares during the period. Suntrust Banks Inc. purchased a new stake in shares of Office Depot in the fourth quarter worth about $149,000. ARP Americas LLC boosted its position in shares of Office Depot by 298.2% in the third quarter. ARP Americas LLC now owns 44,200 shares of the specialty retailer’s stock worth $201,000 after buying an additional 33,100 shares during the period. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Office Depot in the fourth quarter worth about $156,000. Finally, State of Tennessee Treasury Department purchased a new stake in shares of Office Depot in the fourth quarter worth about $159,000. 90.64% of the stock is owned by institutional investors.
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About Office Depot
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.
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