Office Depot Director Sells $52,184 in Stock (ODP)
Office Depot (NYSE:ODP) Director Cynthia T. Jamison unloaded 9,488 shares of the stock on the open market in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $5.50, for a total value of $52,184.00. Following the completion of the sale, the director now directly owns 16,461 shares of the company’s stock, valued at approximately $90,536. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on ODP shares. Analysts at Credit Suisse upgraded shares of Office Depot from a “neutral” rating to an “outperform” rating in a research note on Wednesday, May 7th. They now have a $7.00 price target on the stock, up previously from $6.13. Separately, analysts at Jefferies Group raised their price target on shares of Office Depot from $5.00 to $5.25 in a research note on Wednesday, May 7th. Finally, analysts at Goldman Sachs initiated coverage on shares of Office Depot in a research note on Monday, May 5th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Office Depot has an average rating of “Hold” and a consensus price target of $5.92.
Office Depot (NYSE:ODP) traded up 1.70% on Thursday, hitting $5.38. The stock had a trading volume of 9,560,980 shares. Office Depot has a 52-week low of $3.77 and a 52-week high of $5.85. The stock has a 50-day moving average of $4.33 and a 200-day moving average of $4.8. The company’s market cap is $2.877 billion. Office Depot also saw a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 50,358,229 shares, a growth of 4.7% from the April 15th total of 48,117,381 shares. Currently, 9.6% of the company’s shares are short sold. Based on an average daily volume of 6,955,886 shares, the days-to-cover ratio is presently 7.2 days.
Office Depot (NYSE:ODP) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.03 by $0.04. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.28 billion. The company’s quarterly revenue was up 60.2% on a year-over-year basis. Analysts expect that Office Depot will post $0.15 EPS for the current fiscal year.
Office Depot, Inc (NYSE:ODP) is a global supplier of office products and services.
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