Analyst Rating Update on Office Depot (ODP)

Office Depot (ODP) : Zacks Investment Research ranks Office Depot (ODP) as 3, which is a Hold recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 6 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 8 research analysts is 3, which indicates as a Hold.

Office Depot (ODP) : The most positive equity analysts on Office Depot (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.

Company shares have received an average consensus rating of Hold for the current week Also, In the latest statement by the brokerage house, Jefferies downgrades its outlook on Office Depot (NASDAQ:ODP). The current rating of the shares is Sell, according to the research report released by the firm. Previously, the company had a rating of Neutral. The rating by the firm was issued on May 11, 2016.


Office Depot (NASDAQ:ODP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.46 and $3.32 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.59. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.48, notching a gain of 5.78% for the day. The total traded volume was 26,963,017 . The stock had closed at $3.29 on the previous day.

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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