Zacks Lowers Office Depot to Underperform (ODP)

By admin | 6 years ago

Office Depot (NYSE: ODP) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday. They currently have a $2.00 price target on the stock.

Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group (NYSE: JEF) cut their price target on shares of Office Depot to $3.00 in a research note to investors on Thursday, May 3rd. Analysts at UBS AG (NYSE: UBS) reiterated a “neutral” rating on shares of Office Depot in a research note to investors on Wednesday, May 2nd.

Office Depot opened at 2.18 on Wednesday. Office Depot has a 1-year low of $1.75 and a 1-year high of $4.84. The company has a market cap of $618.7 million and a price-to-earnings ratio of 5.34.

Office Depot last posted its quarterly earnings results on Tuesday, May 1st. The company reported $0.05 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.05. The company’s quarterly revenue was down 3.4% on a year-over-year basis. Analysts expect that Office Depot will post $0.02 EPS next quarter.

Office Depot, Inc. (Office Depot) is a global supplier of office products and services. The Company operates in three business segments: North American Retail Division, North American Business Solutions Division and International Division.

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