Office Depot (ODP) Receives ‘Analyst’ Rating

Office Depot (ODP) has an average broker rating of 3, which is interpreted as a Hold, as rated by 8 equity analysts. Nonetheless, 1 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 6 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Office Depot (ODP) : The consensus price target for Office Depot (ODP) is $4.58 for the short term with a standard deviation of $1.14. The most optimist securities analyst among the 6 who monitor the stock believes that the stock can reach $7, however, the pessimist price target for the company is $3.


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 (NASDAQ:ODP): After opening at $3.74, the stock dipped to an intraday low of $3.53 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $3.74 and the buying power remained strong till the end. The stock closed at $3.58 for the day, a gain of 1.13% for the day session. The total traded volume was 6,067,767. The stocks close on the previous trading day was $3.54.

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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