BidaskClub upgraded shares of Office Depot (NASDAQ:ODP) from a hold rating to a buy rating in a research report released on Thursday, August 23rd.

A number of other research analysts also recently issued reports on ODP. ValuEngine downgraded Office Depot from a hold rating to a sell rating in a report on Wednesday, May 2nd. Zacks Investment Research raised Office Depot from a sell rating to a hold rating in a research report on Tuesday, May 8th. Bank of America reissued a buy rating and issued a $3.00 price objective on shares of Office Depot in a research report on Thursday, May 17th. Finally, Telsey Advisory Group reissued a market perform rating on shares of Office Depot in a research report on Wednesday, May 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $3.88.

Shares of ODP stock traded up $0.08 on Thursday, reaching $3.28. 3,666,684 shares of the company’s stock were exchanged, compared to its average volume of 4,014,927. Office Depot has a 52 week low of $2.00 and a 52 week high of $4.65. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.85 and a current ratio of 1.38. The firm has a market capitalization of $1.76 billion, a P/E ratio of 9.09, a P/E/G ratio of 0.53 and a beta of 2.73.

Office Depot (NASDAQ:ODP) last released its quarterly earnings data on Tuesday, August 7th. The specialty retailer reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.61 billion. Office Depot had a return on equity of 9.20% and a net margin of 0.91%. During the same period last year, the business posted $0.06 EPS. sell-side analysts forecast that Office Depot will post 0.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 24th were paid a $0.025 dividend. The ex-dividend date was Thursday, August 23rd. This represents a $0.10 annualized dividend and a dividend yield of 3.05%. Office Depot’s dividend payout ratio is presently 22.22%.

Several institutional investors have recently made changes to their positions in ODP. Swiss National Bank lifted its holdings in Office Depot by 2.5% in the first quarter. Swiss National Bank now owns 902,095 shares of the specialty retailer’s stock valued at $1,940,000 after acquiring an additional 21,900 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Office Depot by 74.7% in the second quarter. Nisa Investment Advisors LLC now owns 52,160 shares of the specialty retailer’s stock valued at $133,000 after acquiring an additional 22,300 shares during the last quarter. KBC Group NV lifted its holdings in Office Depot by 43.6% in the first quarter. KBC Group NV now owns 80,378 shares of the specialty retailer’s stock valued at $173,000 after acquiring an additional 24,406 shares during the last quarter. AMG Funds LLC lifted its holdings in Office Depot by 6.2% in the second quarter. AMG Funds LLC now owns 454,043 shares of the specialty retailer’s stock valued at $1,158,000 after acquiring an additional 26,514 shares during the last quarter. Finally, Xact Kapitalforvaltning AB lifted its holdings in Office Depot by 51.9% in the first quarter. Xact Kapitalforvaltning AB now owns 82,848 shares of the specialty retailer’s stock valued at $178,000 after acquiring an additional 28,300 shares during the last quarter. Hedge funds and other institutional investors own 90.59% of the company’s stock.

Office Depot Company Profile

Office Depot, Inc engages in the provision of office products, services, supplies, and technology solutions. It operates through the following segments: Retail, Business Solutions, and CompuCom. The Retail segment involves in selling merchandise through chain of office supply stores and offers products and services in the categories of supplies, technology, and furniture and other.

See Also: How to Calculate Compound Annual Growth Rate (CAGR)

Receive News & Ratings for Office Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Office Depot and related companies with MarketBeat.com's FREE daily email newsletter.