Office Depot (ODP) : Traders are bullish on Office Depot (ODP) as it has outperformed the S&P 500 by a wide margin of 5.71% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.38%, 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 3.69% in the last 1 week, and is up 5.49% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 2.93% and the fifty day Moving Average is 6.46%. Office Depot, Inc. is up 4.14% in the last three month period. Year-to-Date the stock performance stands at -34.82%.
Office Depot (ODP) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $7 and the lowest price target forecast is $3. The average forecast of all the analysts is $4.58 and the expected standard deviation is $1.14.
Office Depot (NASDAQ:ODP): stock turned positive on Friday. Though the stock opened at $3.61, the bulls momentum made the stock top out at $3.67 level for the day. The stock recorded a low of $3.59 and closed the trading day at $3.65, in the green by 1.11%. The total traded volume for the day was 4,715,332. The stock had closed at $3.61 in the previous days trading.
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.