Office Depot (ODP) : Traders are bullish on Office Depot (ODP) as it has outperformed the S&P 500 by a wide margin of 5.58% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.45%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.89% in the last 1 week, and is up 8.21% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Office Depot (NASDAQ:ODP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.54 and $3.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.60. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.56, notching a gain of 1.42% for the day. The total traded volume was 5,817,764 . The stock had closed at $3.51 on the previous day.
The stock has recorded a 20-day Moving Average of 3.81% and the 50-Day Moving Average is 3.95%. Office Depot, Inc. has dropped 42.02% during the last 3-month period . Year-to-Date the stock performance stands at -36.88%.
Office Depot (ODP) : The consensus price target for Office Depot (ODP) is $4.73 for the short term with a standard deviation of $0.95. The most optimist securities analyst among the 6 who monitor the stock believes that the stock can reach $7, however, the pessimist price target for the company is $4.
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.