Office Depot (ODP) has risen sharply, recording gains of 1.44% in the past 4 weeks. However, the stock has corrected -3.3% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 1.05% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Office Depot, Inc. is up 2.62% in the last 3-month period. Year-to-Date the stock performance stands at -37.59%. The stock has recorded a 20-day Moving Average of 0.8% and the 50-Day Moving Average is 2.45%.
Office Depot (NASDAQ:ODP): The stock opened at $3.54 on Friday but the bulls could not build on the opening and the stock topped out at $3.58 for the day. The stock traded down to $3.50 during the day, due to lack of any buying support eventually closed down at $3.52 with a loss of -0.56% for the day. The stock had closed at $3.54 on the previous day. The total traded volume was 3,723,949 shares.
Also, Equity Analysts at the UBS maintains the rating on Office Depot (NASDAQ:ODP). The brokerage firm has issued a Sell rating on the shares. The Analysts at the ratings agency lowers the price target from $4 per share to $3.1 per share. The rating by the firm was issued on August 4, 2016.
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.