Breaking: Merrill Lynch Reconfirms $3.0000 Price Objective On Office Depot (NASDAQ:ODP) Shares, Reconfirms Their Original Buy Rating

May 17, 2018 - By Mona Holcomb

Office Depot, Inc. (NASDAQ:ODP) Logo

Investors sentiment increased to 0.97 in 2017 Q4. Its up 0.10, from 0.87 in 2017Q3. It improved, as 32 investors sold Office Depot, Inc. shares while 82 reduced holdings. 40 funds opened positions while 71 raised stakes. 486.57 million shares or 5.44% more from 461.44 million shares in 2017Q3 were reported.

Sg Americas Secs Ltd Com reported 1.21M shares or 0.04% of all its holdings. Clearbridge Investments Limited Com holds 6,357 shares. Alliancebernstein Ltd Partnership holds 816,026 shares. Oregon Employees Retirement Fund holds 0.01% or 190,463 shares. Shelton Capital holds 0.01% or 46,441 shares in its portfolio. Hancock Hldgs Co owns 322,322 shares or 0.05% of their US portfolio. Meeder Asset Inc invested in 0% or 14,846 shares. New York-based Amalgamated Bancshares has invested 0.01% in Office Depot, Inc. (NASDAQ:ODP). Css Ltd Llc Il has 57,257 shares for 0.01% of their portfolio. Ontario – Canada-based Manufacturers Life Insurance The has invested 0% in Office Depot, Inc. (NASDAQ:ODP). Ameritas Partners accumulated 198,201 shares. 42,395 are owned by Jane Street Gru Ltd Com. Royal Bank & Trust Of Canada has invested 0% in Office Depot, Inc. (NASDAQ:ODP). Moreover, Voya Invest Management Lc has 0.01% invested in Office Depot, Inc. (NASDAQ:ODP) for 1.15 million shares. Us Financial Bank De stated it has 0% in Office Depot, Inc. (NASDAQ:ODP).

Since January 5, 2018, it had 0 insider buys, and 1 insider sale for $4,637 activity.

Office Depot (NASDAQ:ODP) Rating Reaffirmed

The company has just set a target price of $3.0000 on Office Depot (NASDAQ:ODP) shares. This is 21.46 % from the current stock price. In a research report sent to investors and clients on Wednesday, 16 May, Merrill Lynch reiterated their Buy rating on shares of ODP.

The stock increased 0.41% or $0.01 during the last trading session, reaching $2.47. About 4.76 million shares traded. Office Depot, Inc. (NASDAQ:ODP) has declined 52.71% since May 18, 2017 and is downtrending. It has underperformed by 64.26% the S&P500.

Analysts await Office Depot, Inc. (NASDAQ:ODP) to report earnings on August, 8. They expect $0.03 earnings per share, down 50.00 % or $0.03 from last year’s $0.06 per share. ODP’s profit will be $16.74 million for 20.58 P/E if the $0.03 EPS becomes a reality. After $0.08 actual earnings per share reported by Office Depot, Inc. for the previous quarter, Wall Street now forecasts -62.50 % negative EPS growth.

Office Depot, Inc., together with its subsidiaries, supplies office services and products in North America. The company has market cap of $1.38 billion. The firm operates in two divisions, North American Retail and North American Business Solutions. It has a 7.37 P/E ratio. It offers office supplies, technology products and solutions, business machines and related supplies, facilities products, and office furniture, as well as copy and print services.

More recent Office Depot, Inc. (NASDAQ:ODP) news were published by: Investorplace.com which released: “It’s Time to Grab Office Depot Inc Stock on the Upswing” on May 17, 2018. Also Streetinsider.com published the news titled: “Einhorn’s Greenlight Capital Enters Office Depot (ODP), Abercrombie & Fitch (ANF) (more…) – 13F” on May 15, 2018. 247Wallst.com‘s news article titled: “Is This the Turnaround Office Depot Has Been Seeking?” with publication date: May 09, 2018 was also an interesting one.

Office Depot, Inc. (NASDAQ:ODP) Institutional Positions Chart

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