Bank of America Analysts Give Office Depot (ODP) a $5.00 Price Target
Several other equities analysts also recently commented on ODP. BidaskClub raised shares of Office Depot from a hold rating to a buy rating in a research note on Tuesday, July 10th. Zacks Investment Research raised shares of Office Depot from a hold rating to a buy rating and set a $3.25 price objective for the company in a research note on Tuesday, July 10th. Finally, ValuEngine raised shares of Office Depot from a strong sell rating to a sell rating in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $4.17.
Shares of Office Depot stock traded down $0.12 on Wednesday, reaching $3.25. 12,636,970 shares of the stock were exchanged, compared to its average volume of 4,729,497. Office Depot has a one year low of $2.00 and a one year high of $3.66. The company has a current ratio of 1.35, a quick ratio of 0.85 and a debt-to-equity ratio of 0.75. The company has a market cap of $1.89 billion, a PE ratio of 7.22 and a beta of 2.65.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 23rd will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 3.08%. The ex-dividend date is Wednesday, November 21st. Office Depot’s payout ratio is 22.22%.
Large investors have recently modified their holdings of the stock. Zeke Capital Advisors LLC acquired a new position in Office Depot in the 2nd quarter valued at approximately $106,000. Acadian Asset Management LLC increased its position in Office Depot by 2,383.8% in the 3rd quarter. Acadian Asset Management LLC now owns 35,817 shares of the specialty retailer’s stock valued at $115,000 after acquiring an additional 34,375 shares during the period. Virtu Financial LLC acquired a new position in Office Depot in the 2nd quarter valued at approximately $121,000. Nisa Investment Advisors LLC increased its position in Office Depot by 74.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 52,160 shares of the specialty retailer’s stock valued at $133,000 after acquiring an additional 22,300 shares during the period. Finally, Greenwich Wealth Management LLC increased its position in Office Depot by 233.9% in the 2nd quarter. Greenwich Wealth Management LLC now owns 54,027 shares of the specialty retailer’s stock valued at $138,000 after acquiring an additional 37,845 shares during the period. 90.72% of the stock is owned by institutional investors and hedge funds.
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.
Read More: Liquidity
Receive News & Ratings for Office Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot and related companies with MarketBeat.com's FREE daily email newsletter.