Short Term Price Target on Office Depot (ODP)

Office Depot (NASDAQ:ODP) : Average target price received by Office Depot (NASDAQ:ODP) is $4.93 with an expected standard deviation of $0.89. The most aggressive target on the stock is $7, whereas the most downbeat target is $4. 6 financial analysts are currently covering the stock.

Office Depot, Inc. has lost 4.34% in the last five trading days and dropped 7.28% in the last 4 weeks. Office Depot, Inc. has dropped 56.16% during the last 3-month period . Year-to-Date the stock performance stands at -41.31%. Also, Jefferies downgrades their rating on the shares of Office Depot (NASDAQ:ODP). The current rating of the shares is Sell. Earlier, the shares were rated a Neutral by the brokerage firm. The rating by the firm was issued on May 11, 2016.

Office Depot (NASDAQ:ODP) : 9 analysts are covering Office Depot (NASDAQ: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 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Office Depot (NASDAQ:ODP): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.27 and $3.23 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.31. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.31, notching a gain of 2.16% for the day. The total traded volume was 7,495,712 . The stock had closed at $3.24 on the previous day.

In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Office Depot Inc, Travis Nigel, had purchased 14,267 shares in a transaction dated on May 25, 2016. The transaction was executed at $3.47 per share with total amount equaling $49,506.

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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