Office Depot Shares Down 4.8% on Insider Selling (ODP)
Office Depot (NYSE:ODP)’s share price dropped 4.8% on Thursday after an insider sold shares in the company, StockRatingsNetwork.com reports. The stock traded as low as $4.92 and last traded at $4.93, with a volume of 8,501,832 shares traded. The stock had previously closed at $5.18.
Specifically, EVP C Elisa D. Garcia sold 11,531 shares of the company’s stock on the open market in a transaction dated Monday, August 18th. The shares were sold at an average price of $5.15, for a total transaction of $59,384.65. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on ODP shares. 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $6.20.
The stock has a 50-day moving average of $5.15 and a 200-day moving average of $4.91. The company’s market cap is $2.650 billion.
Office Depot (NYSE:ODP) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.02) earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted ($0.10) earnings per share. Office Depot’s revenue was up 58.8% compared to the same quarter last year. On average, analysts predict that Office Depot will post $0.17 earnings per share for the current fiscal year.
Office Depot, Inc (NYSE:ODP) is a global supplier of office products and services.
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