Office Depot, Inc. (NASDAQ:ODP) Quarterly EPS Review

Office Depot Inc. And Office Max Inc. Locations Ahead of Earnings Figures

Office Depot, Inc. (NASDAQ:ODP) may have great momentum, but how has it been performing relative to the market? The stock exchanged hands 8 Million shares versus average trading capacity of 6.62 Million shares.

Wedgewood Investors Inc Pa holds 5.54% of its portfolio in Erie Indemnity Company for 53,526 shares. (NASDAQ:ODP) from a buy rating to a hold rating in a research note issued to investors on Thursday, July 27th. Ltd. now owns 21,600 shares of the specialty retailer's stock valued at $101,000 after buying an additional 5,400 shares during the period.

Now insiders hold 23,006,600 shares in the business which makes up 4.45% of shares. Ltd. increased its position in Office Depot by 33.3% in the first quarter. Finally, Chicago Equity Partners LLC increased its position in shares of Office Depot by 311.0% in the second quarter.

Office Depot, Inc. has a consensus hold rating from 11 Wall Street analysts, and the number of shares now sold short amount to at least 2.46% of shares outstanding. Saba Capital Management L.P. now owns 261,500 shares of the specialty retailer's stock valued at $1,220,000 after buying an additional 5,880 shares in the last quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. In terms of recent volatility, the average for the month is 3.08% and 3.38% for the past week. We have $4.40 PT which if reached, will make NASDAQ:ODP worth $171.50M less. Eight research analysts have rated the stock with a hold rating, The company has an average rating of "Hold" and an average target price of $5.12. Blackrock stated it has 0% in Office Depot Inc (NASDAQ:ODP). The SI to Office Depot Incorporated's float is 3.92%. For the quarter ending Dec-17, 7 analysts have a mean sales target of 2,472.71 million whilst for the year ending Dec-17, 8 analysts have a mean target of 10,289.70 million. Next quarter's EPS is forecasted at $0.18 and the next full year EPS is anticipated to be $0.56. Office Depot's revenue was down 7.0% on a year-over-year basis.

For this year, Office Depot, Inc. "(ODP)" was reported by BNB Daily and is owned by of BNB Daily. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & global copyright and trademark laws.

The company's executives, including CEO Gerry Smith, suggested that Office Depot's business services pipeline had fallen to "basically zero", during the time it was waiting for the government's approval of the Staples deal.

Sell-side analysts also have something to say about this ODP. Zacks Investment Research lowered Office Depot from a "buy" rating to a "hold" rating in a research report on Tuesday, July 11th. Finally, KAMES CAPITAL plc purchased a new position in shares of Office Depot during the first quarter worth approximately $1,218,000. The firm has "Sell" rating by Jefferies given on Wednesday, May 11. Telsey Advisory Group increased their price target on Office Depot from $4.40 to $5.25 and gave the company a "market perform" rating in a research report on Wednesday, May 10th. The lowest 12-month price target for the shares is $3.10, which would be decrease of about -50% of its current value. Allison Michael R sold $336,449 worth of stock or 66,217 shares. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.43% of the company's stock.

Office Depot, Inc. provides a selection of services and products to clients and businesses of various sizes.

Sales in Office Depot's business solutions division were down 6% to $1.2 billion. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.

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