BidaskClub cut shares of Office Depot (NASDAQ:ODP) from a hold rating to a sell rating in a research note released on Friday.

ODP has been the topic of several other reports. ValuEngine lowered Office Depot from a sell rating to a strong sell rating in a research note on Monday, July 2nd. Zacks Investment Research lowered Office Depot from a hold rating to a sell rating in a research note on Monday, October 15th. Finally, Bank of America restated a buy rating and issued a $4.00 target price on shares of Office Depot in a research note on Tuesday, August 7th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $3.75.

Office Depot stock traded down $0.13 during mid-day trading on Friday, reaching $2.65. 4,248,715 shares of the company’s stock were exchanged, compared to its average volume of 5,049,407. The firm has a market capitalization of $1.54 billion, a P/E ratio of 5.89, a price-to-earnings-growth ratio of 0.49 and a beta of 2.69. Office Depot has a one year low of $2.00 and a one year high of $3.85. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 0.77.

Office Depot (NASDAQ:ODP) last issued its quarterly earnings results on Tuesday, August 7th. The specialty retailer reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.61 billion. Office Depot had a return on equity of 9.20% and a net margin of 0.91%. During the same period last year, the company posted $0.06 earnings per share. Analysts predict that Office Depot will post 0.33 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue grew its position in shares of Office Depot by 10.3% in the third quarter. State of Alaska Department of Revenue now owns 184,465 shares of the specialty retailer’s stock valued at $592,000 after purchasing an additional 17,265 shares in the last quarter. Aperio Group LLC grew its position in shares of Office Depot by 6.0% in the third quarter. Aperio Group LLC now owns 368,107 shares of the specialty retailer’s stock valued at $1,182,000 after purchasing an additional 20,769 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Office Depot by 74.7% in the second quarter. Nisa Investment Advisors LLC now owns 52,160 shares of the specialty retailer’s stock valued at $133,000 after purchasing an additional 22,300 shares in the last quarter. AMG Funds LLC grew its position in shares of Office Depot by 6.2% in the second quarter. AMG Funds LLC now owns 454,043 shares of the specialty retailer’s stock valued at $1,158,000 after purchasing an additional 26,514 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in shares of Office Depot by 51.9% in the first quarter. Xact Kapitalforvaltning AB now owns 82,848 shares of the specialty retailer’s stock valued at $178,000 after purchasing an additional 28,300 shares in the last quarter. Institutional investors own 90.69% of the company’s stock.

About Office Depot

Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.

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