In the last month the stock has moved in price -11.76%, with a one year change of -58.37%. The FTC argued its tie-up with Staples would mean higher prices and fewer options for big companies that buy office supplies in bulk.
Office Depot Inc. (NASDAQ:ODP) opened trading today as $3.54 and is trading in the range of 3.21-3.55 today. Impressively, Office Depot only lost 20 bps off its gross margin rate, despite the reduction in sales and stores. The stock has a consensus analyst price target of $24.79for twelve month.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C. The Corporation has average brokerage recommendation (ABR) of 3 based on consensus of the brokerage firms issuing ratings.
On Friday Telsey Advisory Group reiterated its target for shares of Office Depot, Inc.as "Market Perform" recommending a target price of 4.5 for investors; potentially meaning there is an increase of 44.23% from Office Depot, Inc.'s share price of 3.12. The company's 50-day moving average price is $3.45 and its 200-day moving average price is $3.84. That means the share price went down -31.87% from its 52-week low and trades up 590.12% versus the highest price the stock has traded at during the previous year.
Office Depot will continue its plan to reduce retail locations, including 300 stores nationwide over the next three years, the Boca Raton-based company said in its third-quarter earnings announcement Wednesday. A month ago, analyst EPS consensus estimated earnings of US$0.15 per share. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations or financial condition, or state other information relating to, among other things, Office Depot, based on current beliefs and assumptions made by, and information now available to, management.
Office Depot shares plunged nearly 40% after news of its halted merger in May. The stock is down 59% year-to-date. Markets Insider
The company's third-quarter total sales fell 6.9 percent to $2.84 billion.
EPS growth in next year is estimated to reach 10.94% while EPS growth estimate for this year is set at 102.20%. For comparison, there was a revenue of $3.48B and EPS of $0.07 in the December 2015 period.
In other Office Depot news, EVP Michael R. Allison sold 23,434 shares of the stock in a transaction on Wednesday, August 24th. Following the transaction, the executive vice president now directly owns 625,883 shares of the company's stock, valued at approximately $2,278,214.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Tiaa Cref Invest Management Limited Liability Corp has 0.04% invested in the company for 16.60 million shares. Corporate insiders own 1.47% of the company's stock.
More recent Office Depot Inc (NASDAQ:ODP) news were published by: Businesswire.com which released: "Office Depot, Inc". The average volume stands around 7.44 million shares. The company's Market capitalization is $1.66 Billion with the total Outstanding Shares of 543.93 million. Finally, Credit Agricole S A raised its position in Office Depot by 255.2% in the first quarter.