Economy

Office Depot, Inc. (NASDAQ:ODP) Insider Michael R. Allison Sells 360000 Shares

The stock tapped a 52-week high of US$105.7 while the mean 12-month price target for the shares is US$83. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, August 9th. Its beta value stands at 2.87. Volume levels waned and ODP actually managed a declined which translated to 2.85 million shares changing hands on the day. The company's 50 day moving average price is $4.14 and its 200 day moving average price is $4.90. The stock's 52-week range is $3.01 to $6.26, and its 3-month range is $3.63 to $6.26. (NASDAQ:ODP) by 55.4% during the second quarter, Holdings Channel reports. After $0.12 actual earnings per share reported by InnerWorkings, Inc. for the previous quarter, Wall Street now forecasts 8.33% EPS growth. Office Depot had a net margin of 0.89% and a return on equity of 4.29%. The business's revenue was down 8.5% on a year-over-year basis. Current market cap is $1.92B and the stock has an EPS of $0.89.

Office Depot, Inc. (ODP)'s earnings per share has been growing at a 36.3 percent rate over the past 5 year when average revenue increase was noted as -0.8 percent.

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A number of equities analysts have recently weighed in on ODP shares. Out of the analyst recommendations 1 rate Office Depot Cmn (NASDAQ:ODP) stock a Buy, 0 rate the stock Outperform, 7 rate Hold, 0 rate Underperform and 1 recommend a Sell. Loop Capital reissued a "hold" rating and issued a $5.00 price objective on shares of Office Depot in a report on Wednesday, July 12th. Ahl Prtn Ltd Liability Partnership holds 0.05% of its portfolio in Office Depot Inc (NASDAQ:ODP) for 411,875 shares. BidaskClub lowered shares of Office Depot from a "hold" rating to a "sell" rating in a research note on Friday, September 22nd. Bank of America Corporation reaffirmed a "buy" rating and set a $6.00 target price on shares of Office Depot in a report on Tuesday, September 5th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock.

Currently, the stock carries a price to earnings ratio of 19.63, a price to book ratio of 3.65, and a price to sales ratio of 1.53.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Office Depot by 15,485.9% in the first quarter. Accern also assigned press coverage about the specialty retailer an impact score of 45.9431331164693 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock's share price in the near future.

Principal Financial Group Inc. reduced its position in shares of Office Depot Inc. Vanguard Group Inc. now owns 44,341,527 shares of the specialty retailer's stock valued at $250,086,000 after purchasing an additional 1,286,833 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Office Depot by 20.0% during the second quarter. Dimensional Fund Advisors LP now owns 34,029,233 shares of the specialty retailer's stock worth $191,925,000 after purchasing an additional 5,677,685 shares in the last quarter. State Street Corp lifted its stake in shares of Office Depot by 2.1% in the 2nd quarter. Prudential Financial Inc. now owns 9,999,340 shares of the specialty retailer's stock worth $56,396,000 after purchasing an additional 4,192,720 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Office Depot by 7.5% during the second quarter. Northern Trust Corp now owns 13,355,039 shares of the specialty retailer's stock valued at $75,322,000 after purchasing an additional 932,852 shares during the period.

Office Depot, Inc. provides a selection of services and products to clients and businesses of various sizes.



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