Insider Selling: Office Depot EVP Unloads 11,531 Shares of Stock (ODP)
Office Depot (NYSE:ODP) EVP C Elisa D. Garcia sold 11,531 shares of the stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $5.15, for a total value of $59,384.65. Following the transaction, the executive vice president now directly owns 400,512 shares in the company, valued at approximately $2,062,637. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Office Depot (NYSE:ODP) traded down 0.96% during mid-day trading on Wednesday, hitting $5.18. 3,796,729 shares of the company’s stock traded hands. 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 $5.15 and its 200-day moving average is $4.91. The company’s market cap is $2.785 billion.
Office Depot (NYSE:ODP) last posted its earnings data on Tuesday, August 5th. The company reported ($0.02) EPS for the quarter, meeting the Thomson Reuters consensus estimate of ($0.02). The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.80 billion. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The company’s quarterly revenue was up 58.8% on a year-over-year basis. On average, analysts predict that Office Depot will post $0.17 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Office Depot from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 14th. They now have a $5.25 price target on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $6.20.
Office Depot, Inc (NYSE:ODP) is a global supplier of office products and services.
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