Office Depot Given Consensus Recommendation of “Hold” by Analysts (NYSE:ODP)
Shares of Office Depot (NYSE:ODP) have received an average recommendation of “Hold” from the fourteen brokerages that are covering the company, Stock Ratings News reports. Seven analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $6.20.
In other Office Depot news, EVP C Elisa D. Garcia sold 11,531 shares of the 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 value of $59,384.65. The transaction was disclosed in a legal filing 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.
Shares of Office Depot (NYSE:ODP) opened at 5.01 on Wednesday. Office Depot has a 52 week low of $3.84 and a 52 week high of $5.85. The stock has a 50-day moving average of $5.11 and a 200-day moving average of $4.91. The company’s market cap is $2.693 billion.
Office Depot (NYSE:ODP) last posted its quarterly earnings results 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. Analysts expect that Office Depot will post $0.17 EPS for the current fiscal year.
Office Depot, Inc (NYSE:ODP) is a global supplier of office products and services.
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