Office Depot (NASDAQ:ODP) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Sunday.

A number of other brokerages have also issued reports on ODP. Bank of America reissued a “buy” rating and set a $6.00 price target on shares of Office Depot in a research note on Tuesday, September 5th. JPMorgan Chase & Co. lowered Office Depot from a “neutral” rating to an “underweight” rating in a research note on Monday, October 30th. Zacks Investment Research raised Office Depot from a “sell” rating to a “hold” rating in a research note on Tuesday, December 5th. Jefferies Group reaffirmed a “hold” rating and set a $4.15 target price (down from $5.00) on shares of Office Depot in a research report on Friday, October 6th. Finally, BidaskClub lowered Office Depot from a “hold” rating to a “sell” rating in a research report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Office Depot currently has a consensus rating of “Hold” and a consensus target price of $5.08.

Shares of Office Depot (NASDAQ:ODP) opened at $3.54 on Friday. Office Depot has a one year low of $2.97 and a one year high of $6.26. The company has a current ratio of 1.52, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $1,827.06, a P/E ratio of 6.00, a P/E/G ratio of 1.11 and a beta of 2.87.

Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Thursday, November 9th. The specialty retailer reported $0.14 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.14. Office Depot had a return on equity of 12.86% and a net margin of 3.00%. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period last year, the company earned $0.16 EPS. Office Depot’s quarterly revenue was down 7.6% compared to the same quarter last year. analysts anticipate that Office Depot will post 0.44 earnings per share for the current fiscal year.

In other Office Depot news, insider Michael R. Allison sold 360,000 shares of Office Depot stock in a transaction on Friday, October 13th. The stock was sold at an average price of $3.83, for a total transaction of $1,378,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.43% of the company’s stock.

Several large investors have recently made changes to their positions in ODP. Schwab Charles Investment Management Inc. increased its holdings in shares of Office Depot by 8.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,880,925 shares of the specialty retailer’s stock valued at $16,249,000 after acquiring an additional 219,247 shares during the period. Comerica Bank increased its holdings in shares of Office Depot by 0.7% in the 2nd quarter. Comerica Bank now owns 408,009 shares of the specialty retailer’s stock valued at $2,379,000 after acquiring an additional 2,986 shares during the period. KBC Group NV increased its holdings in shares of Office Depot by 53.9% in the 2nd quarter. KBC Group NV now owns 71,129 shares of the specialty retailer’s stock valued at $401,000 after acquiring an additional 24,923 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Office Depot in the 2nd quarter valued at $2,273,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Office Depot by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 23,141 shares of the specialty retailer’s stock valued at $131,000 after acquiring an additional 3,469 shares during the period. Institutional investors and hedge funds own 93.00% of the company’s stock.

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About Office Depot

Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.

Analyst Recommendations for Office Depot (NASDAQ:ODP)

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