Stock Traders Purchase Large Volume of Call Options on Office Depot (ODP)
Office Depot (NYSE:ODP) was the target of unusually large options trading on Monday. Stock investors acquired 31,219 call options on the stock, Stock Ratings News reports. This is an increase of 811% compared to the typical daily volume of 3,427 call options.
In other Office Depot news, CFO Michael Newman unloaded 300,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $5.00, for a total value of $1,500,000.00. Following the transaction, the chief financial officer now directly owns 489,966 shares of the company’s stock, valued at approximately $2,449,830. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on ODP shares. Analysts at UBS AG raised their price target on shares of Office Depot from $4.50 to $5.50 in a research note to investors on Friday. They now have a “neutral” rating on the stock. Separately, analysts at Janney Montgomery Scott upgraded shares of Office Depot from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, October 10th. Finally, analysts at KeyCorp raised their price target on shares of Office Depot 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $4.80.
Shares of Office Depot (NYSE:ODP) opened at 5.04 on Tuesday. Office Depot has a 52-week low of $2.30 and a 52-week high of $6.10. The stock’s 50-day moving average is $4.50 and its 200-day moving average is $4.21. The company’s market cap is $1.456 billion.
Office Depot (NYSE:ODP) last released its 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 in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis.
Office Depot, Inc (NYSE:ODP) is a global supplier of office products and services.
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