Today’s Market Runner: Office Depot Inc Has Another Very Strong Trading Session

Today's Market Runner: Office Depot Inc Has Another Very Strong Trading Session

The stock of Office Depot Inc (NASDAQ:ODP) is a huge mover today! About 15.35 million shares traded hands or 86.29% up from the average. Office Depot Inc (NASDAQ:ODP) has declined 49.61% since April 8, 2016 and is downtrending. It has underperformed by 55.26% the S&P500.
The move comes after 7 months positive chart setup for the $2.29B company. It was reported on Nov, 10 by We have $6.41 PT which if reached, will make NASDAQ:ODP worth $1.28B more.

Office Depot Inc (NASDAQ:ODP) Ratings Coverage

Out of 7 analysts covering Office Depot (NASDAQ:ODP), 3 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 43% are positive. Office Depot has been the topic of 11 analyst reports since September 8, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, May 11 by Telsey Advisory Group. As per Wednesday, February 24, the company rating was maintained by Telsey Advisory Group. The stock of Office Depot Inc (NASDAQ:ODP) has “Buy” rating given on Friday, December 11 by Bank of America. The firm earned “Sell” rating on Wednesday, May 11 by Jefferies. As per Monday, March 7, the company rating was maintained by Credit Suisse. On Thursday, August 4 the stock rating was maintained by UBS with “Sell”. The firm earned “Sell” rating on Wednesday, May 11 by UBS. The company was downgraded on Tuesday, December 8 by KeyBanc Capital Markets. Telsey Advisory Group maintained Office Depot Inc (NASDAQ:ODP) on Friday, October 28 with “Market Perform” rating. Telsey Advisory Group maintained the stock with “Outperform” rating in Tuesday, December 8 report.

According to Zacks Investment Research, “Office Depot, Inc., together with its subsidiaries, is the one of the largest suppliers of office products and services in the world. The company sells to consumers and businesses of all sizes through its three business segments: Stores, Business Services and International. As the largest seller of office products around the world, the Company operates under the Office Depot, Viking Office Products, Viking Direct and brand names.”

Insitutional Activity: The institutional sentiment decreased to 0.96 in Q2 2016. Its down 0.51, from 1.47 in 2016Q1. The ratio is negative, as 64 funds sold all Office Depot Inc shares owned while 77 reduced positions. 43 funds bought stakes while 92 increased positions. They now own 499.99 million shares or 6.86% more from 467.88 million shares in 2016Q1.
Wolverine Asset Ltd Liability Company accumulated 0% or 17,655 shares. Savant Lc accumulated 0.02% or 16,830 shares. The Switzerland-based Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% in Office Depot Inc (NASDAQ:ODP). Commonwealth Of Pennsylvania Public School Empls Retrmt System reported 95,294 shares or 0.01% of all its holdings. Natixis Asset holds 99,200 shares or 0.04% of its portfolio. Springbok Capital Mgmt Ltd Limited Liability Company holds 283,300 shares or 0.13% of its portfolio. Alpine Associate Mngmt holds 5.82M shares or 0.69% of its portfolio. Kcg last reported 187,389 shares in the company. Moreover, Proshare Advsrs Limited Liability Corp has 0% invested in Office Depot Inc (NASDAQ:ODP) for 114,403 shares. Ionic Mngmt Ltd Limited Liability Company last reported 0.13% of its portfolio in the stock. Arbiter Prtn Cap Mngmt Ltd Liability Corp reported 389,700 shares or 0.17% of all its holdings. Ameritas Investment Prns Inc holds 121,411 shares or 0.03% of its portfolio. Moreover, Clear Harbor Asset Management Llc has 0.02% invested in Office Depot Inc (NASDAQ:ODP) for 25,000 shares. The New York-based Teachers Advisors has invested 0.04% in Office Depot Inc (NASDAQ:ODP). Hudson Bay Mngmt Lp holds 0.16% or 1.58M shares in its portfolio.

Insider Transactions: Since May 25, 2016, the stock had 1 buying transaction, and 1 sale for $35,678 net activity. The insider TRAVIS NIGEL bought 14,267 shares worth $49,506. On Wednesday, August 24 the insider Allison Michael R sold $85,184.

More notable recent Office Depot Inc (NASDAQ:ODP) news were published by: which released: “Why Shares of Office Depot, Inc. Are Soaring 14% Despite Revenue Decline” on November 02, 2016, also with their article: “Office Depot, Inc. Shares Tips for Small Business Success During the Holiday …” published on November 01, 2016, published: “Yelp Inc Reports Surprise Profit, Office Depot Inc Shares Rise On Earnings” on November 02, 2016. More interesting news about Office Depot Inc (NASDAQ:ODP) were released by: and their article: “Office Depot, Inc. is Closing its Retail Stores on Thanksgiving Day” published on October 13, 2016 as well as‘s news article titled: “Office Depot, Inc. Blends Holiday Traditions with New ‘Chrismukkah’ Dance in …” with publication date: November 03, 2016.

ODP Company Profile

Office Depot, Inc. (Office Depot), incorporated on September 12, 1986, is a well-known provider of office services and products. The Firm sells services and products to clients through three divisions: North American Retail Division, North American Business Solutions Division and International Division. Sales for these Divisions are processed through various channels, consisting of office supply stores, a contract sales force, Internet sites, an outbound telephone account management sales force, direct marketing catalogs and call centers, all supported by a network of supply chain facilities and delivery operations. It operates under the Office Depot and OfficeMax brands. It also offers products under various labels, including Foray, Ativa, TUL, Realspace, WorkPro, Brenton Studio, Highmark, Grand & Toy and Viking Office Products. It offers its products under supplies, technology, furniture and other categories. The supplies category includes products, such as paper, binders, writing instruments, cleaning and breakroom items, and school supplies. The technology category includes products, such as desktop and laptop computers, monitors, tablets, printers, ink and toner, cables, software, digital cameras, telephones, and wireless communications products, as well as services for technology products. The furniture and other category include products, such as desks, chairs, luggage, sales in its copy and print centers, and other miscellaneous items.

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