Office Depot (NASDAQ:ODP) Stock Crosses Above 200-Day Moving Average of $2.02

Office Depot Inc (NASDAQ:ODP)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.02 and traded as high as $2.57. Office Depot shares last traded at $2.50, with a volume of 264,638 shares trading hands.

Several analysts have recently weighed in on ODP shares. BidaskClub downgraded shares of Office Depot from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. ValuEngine raised shares of Office Depot from a “sell” rating to a “hold” rating in a research note on Friday, January 10th.

The company’s 50 day moving average price is $2.48 and its two-hundred day moving average price is $2.02. The company has a quick ratio of 0.77, a current ratio of 1.10 and a debt-to-equity ratio of 0.83. The stock has a market cap of $1.37 billion, a P/E ratio of 41.67, a P/E/G ratio of 0.52 and a beta of 2.61.

Office Depot (NASDAQ:ODP) last posted its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Office Depot had a net margin of 0.28% and a return on equity of 10.05%. The firm had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company’s revenue was down 3.6% on a year-over-year basis. As a group, equities research analysts forecast that Office Depot Inc will post 0.38 earnings per share for the current year.

A number of large investors have recently modified their holdings of ODP. Northern Trust Corp raised its stake in Office Depot by 1.1% in the second quarter. Northern Trust Corp now owns 11,719,859 shares of the specialty retailer’s stock worth $24,142,000 after buying an additional 132,055 shares in the last quarter. BlackRock Inc. raised its stake in Office Depot by 1.3% in the second quarter. BlackRock Inc. now owns 80,814,085 shares of the specialty retailer’s stock worth $166,476,000 after buying an additional 1,031,492 shares in the last quarter. Invesco Ltd. raised its stake in Office Depot by 176.6% in the second quarter. Invesco Ltd. now owns 5,465,201 shares of the specialty retailer’s stock worth $11,258,000 after buying an additional 3,489,594 shares in the last quarter. Balyasny Asset Management LLC bought a new position in Office Depot in the second quarter worth approximately $95,000. Finally, Bank of America Corp DE raised its stake in Office Depot by 191.7% in the second quarter. Bank of America Corp DE now owns 3,593,951 shares of the specialty retailer’s stock worth $7,403,000 after buying an additional 2,361,806 shares in the last quarter. 90.56% of the stock is owned by institutional investors.

Office Depot Company Profile (NASDAQ:ODP)

Office Depot, Inc provides business services and supplies, products, and technology solutions. The company operates in three divisions: Business Solutions, Retail, and CompuCom. The Business Solutions division offers office supply products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, U.S.

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