BidaskClub downgraded shares of Office Depot (NASDAQ:ODP) from a buy rating to a hold rating in a report issued on Thursday.

A number of other equities analysts also recently issued reports on ODP. ValuEngine downgraded shares of Office Depot from a hold rating to a sell rating in a report on Friday, August 10th. Zacks Investment Research raised shares of Office Depot from a hold rating to a buy rating and set a $3.50 price objective on the stock in a report on Thursday, August 9th. Bank of America reaffirmed a buy rating and set a $4.00 price objective on shares of Office Depot in a report on Tuesday, August 7th. Finally, Telsey Advisory Group reaffirmed a market perform rating on shares of Office Depot in a report on Wednesday, May 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $3.88.

NASDAQ ODP opened at $3.28 on Thursday. Office Depot has a 12-month low of $2.00 and a 12-month high of $4.65. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 0.85. The firm has a market capitalization of $1.76 billion, a P/E ratio of 7.29, a price-to-earnings-growth ratio of 0.53 and a beta of 2.73.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Tuesday, August 7th. The specialty retailer reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Office Depot had a net margin of 0.91% and a return on equity of 9.20%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the firm posted $0.06 EPS. sell-side analysts expect that Office Depot will post 0.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 24th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend was Thursday, August 23rd. Office Depot’s dividend payout ratio is 22.22%.

A number of institutional investors and hedge funds have recently bought and sold shares of ODP. Zeke Capital Advisors LLC purchased a new position in Office Depot during the 2nd quarter worth $106,000. Virtu Financial LLC purchased a new position in shares of Office Depot in the 2nd quarter worth about $121,000. Nisa Investment Advisors LLC boosted its holdings in shares of Office Depot by 74.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 52,160 shares of the specialty retailer’s stock worth $133,000 after buying an additional 22,300 shares during the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of Office Depot by 233.9% in the 2nd quarter. Greenwich Wealth Management LLC now owns 54,027 shares of the specialty retailer’s stock worth $138,000 after buying an additional 37,845 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Office Depot by 281.8% in the 2nd quarter. CIBC Asset Management Inc now owns 65,875 shares of the specialty retailer’s stock worth $168,000 after buying an additional 48,620 shares during the last quarter. 90.59% of the stock is currently owned by hedge funds and other institutional investors.

About Office Depot

Office Depot, Inc engages in the provision of office products, services, supplies, and technology solutions. It operates through the following segments: Retail, Business Solutions, and CompuCom. The Retail segment involves in selling merchandise through chain of office supply stores and offers products and services in the categories of supplies, technology, and furniture and other.

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