Price Target Update on Office Depot (NASDAQ:ODP)

Office Depot (NASDAQ:ODP) : The most positive equity analysts on Office Depot (NASDAQ:ODP) expects the shares to touch $7, whereas, the least positive believes that the stock will trade at $4 in the short term. The company is covered by 6 Wall Street Brokerage Firms. The average price target for shares are $4.93 with an expected fluctuation of $0.89 from the mean.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Jefferies downgrades the rating on Office Depot (NASDAQ:ODP). The brokerage firm has issued a Sell rating on the shares. The shares were previously rated Neutral. The rating by the firm was issued on May 11, 2016.

Office Depot (NASDAQ:ODP): On Thursdays trading session , Opening price of the stock was $3.49 with an intraday high of $3.529. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $3.46. However, the stock managed to close at $3.46, a loss of 0.57% for the day. On the previous day, the stock had closed at $3.48. The total traded volume of the day was 8,016,854 shares.

The company shares have dropped -60.72% from its 1 Year high price. On Jul 7, 2015, the shares registered one year high at $8.98 and the one year low was seen on May 17, 2016. The 50-Day Moving Average price is $3.86 and the 200 Day Moving Average price is recorded at $5.27. On the companys insider trading activities, Travis Nigel, director of Office Depot Inc, executed a transaction worth $49,506 on May 25, 2016. A total of 14,267 shares were purchased at an average price of $3.47. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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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