Office Depot (ODP) : Analyst Rating Update

Office Depot (ODP) has an average broker rating of 3, which is interpreted as a Hold, as rated by 9 equity analysts. Nonetheless, 1 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 7 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 1 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company.

Office Depot (ODP) : Average target price received by Office Depot (ODP) is $4.93 with an expected standard deviation of $0.89. The most aggressive target on the stock is $7, whereas the most downbeat target is $4. 6 financial analysts are currently covering the stock.

Office Depot (NASDAQ:ODP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.19 and $3.17 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.27. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.26, notching a gain of 1.24% for the day. The total traded volume was 8,128,000 . The stock had closed at $3.22 on the previous day.

Also, Jefferies downgrades its rating on Office Depot (NASDAQ:ODP). Analysts at the Jefferies have a current rating of Sell on the shares. The shares were previously rated Neutral. The rating by the firm was issued on May 11, 2016. The company shares have dropped -63.16% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $8.94 and the one year low was seen on Jun 27, 2016. The 50-Day Moving Average price is $3.43 and the 200 Day Moving Average price is recorded at $5.13.

Office Depot, Inc. is a supplier of office products and services. The Company sells products and services to consumers through three segments: North American Retail Division, North American Business Solutions Division and International Division. The North American Retail Division sells an assortment of merchandise through its chain of office supply stores throughout the United States, including Puerto Rico and the U.S. Virgin Islands. The North American Business Solutions Division sells office supplies, technology products, cleaning and breakroom supplies, office furniture, certain services, and other solutions to customers. The International Division sells office products and services through direct mail catalogs, contract sales forces, Internet sites and retail stores. The Company also operates a network of distribution centers (DC) and crossdock facilities across the United States, Puerto Rico and Canada.

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