Office Depot (ODP) Receives Price Target

Office Depot (ODP) : Average target price received by Office Depot (ODP) is $4.58 with an expected standard deviation of $1.14. The most aggressive target on the stock is $7, whereas the most downbeat target is $3. 6 financial analysts are currently covering the stock.

Office Depot (ODP) : 8 analysts are covering Office Depot (ODP) and their average rating on the stock is 3, which is read as a Hold. 1 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 6 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.


Also, UBS maintains its rating on Office Depot (NASDAQ:ODP). The global brokerage major lowers the current price target from $4 per share to $3.1 per share. Analysts at the UBS have a current rating of Sell on the shares. The rating by the firm was issued on August 4, 2016.

Office Depot (NASDAQ:ODP): The stock opened at $3.62 on Thursday but the bulls could not build on the opening and the stock topped out at $3.68 for the day. The stock traded down to $3.53 during the day, due to lack of any buying support eventually closed down at $3.62 with a loss of -1.63% for the day. The stock had closed at $3.68 on the previous day. The total traded volume was 5,356,494 shares.

Office Depot, Inc. is a supplier of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. The North American Retail Division sells an assortment of merchandise through its chain of office supply stores throughout the United States, including Puerto Rico and the U.S. Virgin Islands. The North American Business Solutions Division sells office supplies, technology products, cleaning and breakroom supplies, office furniture, certain services, and other solutions to customers. The International Division sells office products and services through direct mail catalogs, contract sales forces, Internet sites and retail stores. The Company also operates a network of distribution centers (DC) and crossdock facilities across the United States, Puerto Rico and Canada.

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