Short Interest in Office Depot Drops By 15.0% (ODP)
Shares of Office Depot (NYSE:ODP) were the target of a large decrease in short interest in the month of June. As of June 13th, there was short interest totalling 41,315,386 shares, a decrease of 15.0% from the May 30th total of 48,613,650 shares, Analyst Ratings Net reports. Based on an average daily trading volume, of 7,001,045 shares, the short-interest ratio is presently 5.9 days. Approximately 7.9% of the shares of the company are short sold.
A number of research firms have recently commented on ODP. Analysts at Goldman Sachs initiated coverage on shares of Office Depot in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $6.35 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Office Depot in a research note on Tuesday, June 24th. They set an “equal weight” rating and a $6.35 price target on the stock. Finally, analysts at Zacks upgraded shares of Office Depot from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 27th. They now have a $5.30 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.20.
Office Depot (NYSE:ODP) opened at 5.62 on Tuesday. Office Depot has a 52-week low of $3.84 and a 52-week high of $5.85. The stock’s 50-day moving average is $5.40 and its 200-day moving average is $4.89. The company’s market cap is $3.005 billion.
Office Depot (NYSE:ODP) last announced its earnings results on Tuesday, May 6th. The company reported $0.07 earnings per share for the quarter, beating the analysts’ 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. Office Depot’s revenue was up 60.2% compared to the same quarter last year. 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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