Investors Buy Large Volume of Put Options on Office Depot (ODP)
Office Depot (NYSE:ODP) was the recipient of unusually large options trading on Tuesday. Investors acquired 11,573 put options on the company, StockRatingsNetwork.com reports. This is an increase of approximately 301% compared to the typical daily volume of 2,887 put options.
Several analysts have recently commented on the stock. Analysts at KeyCorp raised their price target on shares of Office Depot (NYSE:ODP) from $5.25 to $5.50 in a research note to investors on Tuesday, August 13th. They now have a “buy” rating on the stock. Analysts at Zacks upgraded shares of Office Depot (NYSE:ODP) from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, August 7th. They now have a $4.50 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $4.56.
Shares of Office Depot (NYSE:ODP) traded up 2.48% on Tuesday, hitting $4.95. 23,111,654 shares of the company’s stock traded hands. Office Depot has a one year low of $2.24 and a one year high of $6.10. The stock has a 50-day moving average of $4.34 and a 200-day moving average of $4.15. The company’s market cap is $1.430 billion.
Office Depot (NYSE:ODP) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.10). The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the company posted ($0.06) earnings per share. Office Depot’s revenue was down 3.5% compared to the same quarter last year.
Office Depot, Inc (NYSE:ODP) is a global supplier of office products and services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.