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) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $7 and the lowest price target forecast is $3. The average forecast of all the analysts is $4.58 and the expected standard deviation is $1.14.
Company shares have received an average consensus rating of Hold for the current week Office Depot (NASDAQ:ODP): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.54 and $3.54 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.63, notching a gain of 2.25% for the day. The total traded volume was 7,992,534 . The stock had closed at $3.55 on the previous day.
In a related news, The Securities and Exchange Commission has divulged in a Form 4 filing that the director of Office Depot Inc, Travis Nigel had purchased shares worth of $49,506 in a transaction dated on May 25, 2016. A total of 14,267 shares were purchased at a price of $3.47 per share. 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.