Office Depot Upgraded by KeyBanc to Buy (ODP)

Posted by: admin Posted date: March 18, 2013 In: Analyst Articles - US, Investing

Office Depot (NYSE: ODP) was upgraded by KeyBanc from a “hold” rating to a “buy” rating in a research note issued on Monday, TheFlyOnTheWall.com reports.

A number of other firms have also recently commented on ODP. Analysts at Sanford C. Bernstein reiterated a “market perform” rating on shares of Office Depot in a research note to investors on Tuesday, March 12th. They now have a $4.75 price target on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Office Depot from $4.00 to $5.00 in a research note to investors on Friday, February 22nd. They now have a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Office Depot in a research note to investors on Friday, February 22nd. They now have a $4.20 price target on the stock.

Fourteen investment analysts have rated the stock with a hold rating, and one has assigned an underweight rating to the company’s stock. The company presently has a consensus rating of “hold” and a consensus price target of $4.53.

Office Depot (NYSE: ODP) opened at 4.01 on Monday. Office Depot has a 52-week low of $1.51 and a 52-week high of $6.10. The stock’s 50-day moving average is currently $4.26. The company’s market cap is $1.145 billion.

Office Depot (NYSE: ODP) last released its earnings data on Wednesday, February 20th. The company reported $0.00 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.04 by $0.04. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter last year, the company posted $0.03 earnings per share. Office Depot’s revenue was down 11.7% compared to the same quarter last year. Analysts expect that Office Depot will post $0.07 EPS for the current fiscal year.

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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