OfficeMax Rating Increased to Buy at TheStreet (OMX)
OfficeMax (NYSE:OMX) was upgraded by research analysts at TheStreet from a “hold” rating to a “buy” rating in a report released on Tuesday, StockRatingsNetwork reports.
The analysts wrote, “OfficeMax (OMX) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its solid stock price performance, notable return on equity and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
OMX has been the subject of a number of other recent research reports. Analysts at KeyCorp raised their price target on shares of OfficeMax from $14.80 to $17.50 in a research note to investors on Tuesday, October 15th. They now have a “buy” rating on the stock. Separately, analysts at UBS AG raised their price target on shares of OfficeMax from $12.00 to $14.00 in a research note to investors on Friday, October 11th. They now have a “neutral” rating on the stock. Finally, analysts at Janney Montgomery Scott upgraded shares of OfficeMax from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, October 10th. They now have a $21.50 price target on the stock, up previously from $13.00. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. OfficeMax presently has a consensus rating of “Hold” and a consensus price target of $13.78.
OfficeMax (NYSE:OMX) traded down 0.20% during mid-day trading on Tuesday, hitting $15.14. The stock had a trading volume of 919,826 shares. OfficeMax has a 52-week low of $7.04 and a 52-week high of $14.92. The stock has a 50-day moving average of $11.1 and a 200-day moving average of $11.47. The company has a market cap of $1.319 billion and a P/E ratio of 3.00.
OfficeMax (NYSE:OMX) last announced its earnings results on Tuesday, August 6th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.03 by $0.01. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that OfficeMax will post $0.50 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 15th. Stockholders of record on Friday, November 1st will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, October 30th.
OfficeMax Incorporated (NYSE:OMX), is engaged in both business-to-business and retail office products distribution.