Office Depot (NASDAQ:ODP) has been assigned a $4.00 price target by equities research analysts at Deutsche Bank in a research report issued to clients and investors on Thursday. The brokerage currently has a “hold” rating on the specialty retailer’s stock. Deutsche Bank’s target price indicates a potential upside of 23.08% from the company’s previous close.

ODP has been the topic of several other research reports. ValuEngine raised shares of Office Depot from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub raised shares of Office Depot from a “hold” rating to a “buy” rating in a research report on Thursday, September 20th. Bank of America set a $5.00 price target on shares of Office Depot and gave the stock a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of Office Depot from a “hold” rating to a “sell” rating in a research report on Monday, October 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $4.17.

NASDAQ ODP traded down $0.12 during trading hours on Thursday, reaching $3.25. The company had a trading volume of 12,636,970 shares, compared to its average volume of 4,729,497. Office Depot has a 1-year low of $2.00 and a 1-year high of $3.66. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.35 and a quick ratio of 0.85. The stock has a market capitalization of $1.89 billion, a P/E ratio of 7.22 and a beta of 2.65.

Office Depot (NASDAQ:ODP) last posted its earnings results on Wednesday, November 7th. The specialty retailer reported $0.13 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Office Depot had a net margin of 0.59% and a return on equity of 8.90%. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.83 billion. During the same quarter in the prior year, the company posted $0.14 earnings per share. Office Depot’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that Office Depot will post 0.33 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in ODP. BlackRock Inc. grew its position in shares of Office Depot by 34.0% during the second quarter. BlackRock Inc. now owns 72,728,081 shares of the specialty retailer’s stock worth $185,458,000 after acquiring an additional 18,466,409 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Office Depot by 557.0% during the second quarter. SG Americas Securities LLC now owns 10,316,418 shares of the specialty retailer’s stock worth $26,307,000 after acquiring an additional 8,746,140 shares during the last quarter. Laurion Capital Management LP grew its position in shares of Office Depot by 38,083.7% during the second quarter. Laurion Capital Management LP now owns 4,849,336 shares of the specialty retailer’s stock worth $12,366,000 after acquiring an additional 4,836,636 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Office Depot by 12.1% during the second quarter. Dimensional Fund Advisors LP now owns 42,881,014 shares of the specialty retailer’s stock worth $109,349,000 after acquiring an additional 4,618,163 shares during the last quarter. Finally, LSV Asset Management grew its position in shares of Office Depot by 14.9% during the third quarter. LSV Asset Management now owns 16,038,917 shares of the specialty retailer’s stock worth $51,484,000 after acquiring an additional 2,080,765 shares during the last quarter. Institutional investors and hedge funds own 90.72% of the company’s stock.

Office Depot Company Profile

Office Depot, Inc, together with its subsidiaries, provides various products and services. It operates in three divisions: Retail, Business Solutions, and CompuCom. The Retail division operates retail stores, which offer office supplies; technology products and solutions; business machines and related supplies; print, cleaning, breakroom, and facilities products; and office furniture in the United States, Puerto Rico, and the U.S.

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