Office Depot’s (ODP) Hold Rating Reaffirmed at Jefferies Group LLC

Jefferies Group LLC reiterated their hold rating on shares of Office Depot, Inc. (NASDAQ:ODP) in a report published on Friday. Jefferies Group LLC currently has a $4.15 price objective on the specialty retailer’s stock, down from their previous price objective of $5.00.

A number of other equities research analysts have also recently weighed in on the stock. ValuEngine cut shares of Office Depot from a strong-buy rating to a buy rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Office Depot from a buy rating to a hold rating in a report on Tuesday, July 11th. Bank of America Corporation reiterated a buy rating and set a $6.00 price target on shares of Office Depot in a report on Tuesday, September 5th. BidaskClub cut shares of Office Depot from a hold rating to a sell rating in a report on Friday, September 22nd. Finally, Deutsche Bank AG reiterated a hold rating and set a $5.00 price target (down previously from $5.75) on shares of Office Depot in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Office Depot has an average rating of Hold and a consensus price target of $5.08.

Office Depot (NASDAQ:ODP) opened at 3.84 on Friday. The company has a market cap of $1.99 billion, a PE ratio of 4.97 and a beta of 2.89. Office Depot has a 12 month low of $3.01 and a 12 month high of $6.26. The company has a 50-day moving average of $4.28 and a 200 day moving average of $4.98.

Office Depot (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, August 9th. The specialty retailer reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Office Depot had a return on equity of 13.97% and a net margin of 2.49%. Office Depot’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 EPS. On average, equities analysts forecast that Office Depot will post $0.46 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Wednesday, August 23rd. Office Depot’s payout ratio is 20.00%.

Several large investors have recently bought and sold shares of ODP. Nomura Asset Management Co. Ltd. grew its holdings in shares of Office Depot by 33.3% during the first quarter. Nomura Asset Management Co. Ltd. now owns 21,600 shares of the specialty retailer’s stock valued at $101,000 after buying an additional 5,400 shares during the last quarter. Pacad Investment Ltd. lifted its position in Office Depot by 1,292.3% during the second quarter. Pacad Investment Ltd. now owns 18,100 shares of the specialty retailer’s stock valued at $102,000 after purchasing an additional 16,800 shares during the period. Eagle Global Advisors LLC bought a new position in Office Depot during the second quarter valued at approximately $103,000. PNC Financial Services Group Inc. lifted its position in Office Depot by 13.4% during the second quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the specialty retailer’s stock valued at $104,000 after purchasing an additional 2,187 shares during the period. Finally, Bayesian Capital Management LP bought a new position in Office Depot during the second quarter valued at approximately $105,000. Hedge funds and other institutional investors own 94.06% of the company’s stock.

About Office Depot

Office Depot, Inc provides a selection of products and services to consumers and businesses of various sizes. The Company’s segments include North American Retail Division and North American Business Solutions Division. The North American Retail Division includes retail stores in the United States, including Puerto Rico and the United States Virgin Islands, which offer office supplies, technology products and solutions, business machines and related supplies, facilities products and office furniture.

Analyst Recommendations for Office Depot (NASDAQ:ODP)

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