The stock of Office Depot Inc (NASDAQ:ODP) is a huge mover today! About 4.00 million shares traded hands. Office Depot Inc (NASDAQ:ODP) has declined 31.29% since March 8, 2016 and is downtrending. It has underperformed by 40.60% the S&P500.
The move comes after 6 months positive chart setup for the $1.94 billion company. It was reported on Oct, 11 by Barchart.com. We have $5.21 PT which if reached, will make NASDAQ:ODP worth $931.20M more.
Analysts await Office Depot Inc (NASDAQ:ODP) to report earnings on November, 1. They expect $0.16 EPS, 0.00% or $0.00 from last year’s $0.16 per share. ODP’s profit will be $88.18 million for 5.50 P/E if the $0.16 EPS becomes a reality. After $0.03 actual EPS reported by Office Depot Inc for the previous quarter, Wall Street now forecasts 433.33% EPS growth.
Office Depot Inc (NASDAQ:ODP) Ratings Coverage
Out of 7 analysts covering Office Depot (NASDAQ:ODP), 3 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 43% are positive. Office Depot has been the topic of 10 analyst reports since September 8, 2015 according to StockzIntelligence Inc. The stock has “Outperform” rating given by Telsey Advisory Group on Wednesday, February 24. UBS downgraded the shares of ODP in a report on Wednesday, May 11 to “Sell” rating. The firm has “Sell” rating by Jefferies given on Wednesday, May 11. The company was upgraded on Tuesday, September 8 by B. Riley & Co. The firm earned “Market Perform” rating on Wednesday, May 11 by Telsey Advisory Group. The firm has “Sector Weight” rating given on Tuesday, December 8 by KeyBanc Capital Markets. The rating was reinitiated by Bank of America with “Buy” on Friday, December 11. UBS maintained the shares of ODP in a report on Thursday, August 4 with “Sell” rating. The company was maintained on Monday, March 7 by Credit Suisse. The rating was maintained by Telsey Advisory Group with “Outperform” on Tuesday, December 8.
According to Zacks Investment Research, “Office Depot, Inc., together with its subsidiaries, is the one of the largest suppliers of office products and services in the world. The company sells to consumers and businesses of all sizes through its three business segments: Stores, Business Services and International. As the largest seller of office products around the world, the Company operates under the Office Depot, Viking Office Products, Viking Direct and 4Sure.com brand names.”
Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.51, from 1.47 in 2016Q1. The ratio dived, as 64 funds sold all Office Depot Inc shares owned while 77 reduced positions. 43 funds bought stakes while 92 increased positions. They now own 499.99 million shares or 6.86% more from 467.88 million shares in 2016Q1.
The New York-based D E Shaw Com has invested 0% in Office Depot Inc (NASDAQ:ODP). Blackrock Advsr Ltd Liability Corp last reported 0% of its portfolio in the stock. Water Island Cap Limited Co holds 0.05% of its portfolio in Office Depot Inc (NASDAQ:ODP) for 276,353 shares. Moreover, Thrivent For Lutherans has 0% invested in Office Depot Inc (NASDAQ:ODP) for 69,560 shares. The California-based Gemmer Asset Management Ltd Limited Liability Company has invested 0% in Office Depot Inc (NASDAQ:ODP). Whitebox Advsrs Ltd Liability Com accumulated 0.32% or 3.68 million shares. Signaturefd Ltd Liability Corporation has invested 0% of its portfolio in Office Depot Inc (NASDAQ:ODP). Two Sigma Secs Ltd Co accumulated 188,641 shares or 0.34% of the stock. Envestnet Asset Mgmt has 46,359 shares for 0% of their US portfolio. Saba Cap Management Limited Partnership reported 465,300 shares or 0.14% of all its holdings. Old Mutual Customised Solutions (Proprietary) Ltd, a South Africa-based fund reported 22,900 shares. Grt Prtnrs Ltd Liability holds 0.05% of its portfolio in Office Depot Inc (NASDAQ:ODP) for 62,000 shares. Jpmorgan Chase And accumulated 4.05M shares or 0% of the stock. Nationwide Fund last reported 0.03% of its portfolio in the stock. Us Savings Bank De accumulated 18,426 shares or 0% of the stock.
Insider Transactions: Since May 25, 2016, the stock had 1 insider purchase, and 1 sale for $35,678 net activity. 23,434 shares with value of $85,184 were sold by Allison Michael R on Wednesday, August 24. 14,267 shares were bought by TRAVIS NIGEL, worth $49,506.
Another recent and important Office Depot Inc (NASDAQ:ODP) news was published by Reuters.com which published an article titled: “Office Depot to sell European operations to Aurelius Group” on September 23, 2016.
ODP Company Profile
Office Depot, Inc. (Office Depot), incorporated on September 12, 1986, is a well-known provider of office services and products. The Firm sells services and products to clients through three divisions: North American Retail Division, North American Business Solutions Division and International Division. Sales for these Divisions are processed through various channels, consisting of office supply stores, a contract sales force, Internet sites, an outbound telephone account management sales force, direct marketing catalogs and call centers, all supported by a network of supply chain facilities and delivery operations. It operates under the Office Depot and OfficeMax brands. It also offers products under various labels, including Foray, Ativa, TUL, Realspace, WorkPro, Brenton Studio, Highmark, Grand & Toy and Viking Office Products. It offers its products under supplies, technology, furniture and other categories. The supplies category includes products, such as paper, binders, writing instruments, cleaning and breakroom items, and school supplies. The technology category includes products, such as desktop and laptop computers, monitors, tablets, printers, ink and toner, cables, software, digital cameras, telephones, and wireless communications products, as well as services for technology products. The furniture and other category include products, such as desks, chairs, luggage, sales in its copy and print centers, and other miscellaneous items.
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