After Reaching 1 Year Low, Is Office Depot, Inc. (ODP)’s Near-Term Analysis Negative?

April 16, 2018 - By Peter Erickson

Office Depot, Inc. (NASDAQ:ODP) Logo

Investors sentiment increased to 0.97 in Q4 2017. Its up 0.10, from 0.87 in 2017Q3. It is positive, 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.
Howe Rusling owns 1,050 shares for 0% of their portfolio. Manufacturers Life Ins The invested 0% in Office Depot, Inc. (NASDAQ:ODP). 1.14M are owned by Citadel Advsrs Ltd. Suntrust Banks holds 42,336 shares. Acadian Asset Mngmt Ltd Liability Corporation reported 0% in Office Depot, Inc. (NASDAQ:ODP). Goldman Sachs Gru holds 0.01% or 9.27M shares in its portfolio. Texas Permanent School Fund holds 0.02% or 348,016 shares in its portfolio. Jefferies Gp Limited Liability Company has 69,700 shares for 0% of their portfolio. Loring Wolcott And Coolidge Fiduciary Limited Liability Partnership Ma holds 0% of its portfolio in Office Depot, Inc. (NASDAQ:ODP) for 2,975 shares. Brown Advisory holds 0% in Office Depot, Inc. (NASDAQ:ODP) or 65,000 shares. Bnp Paribas Arbitrage Sa holds 0% or 517,159 shares. Highbridge Capital Management Limited Liability Company holds 59,505 shares. 37,800 were reported by Oakbrook Invs Ltd Liability Com. Virtu Fincl Ltd Liability stated it has 22,085 shares or 0% of all its holdings. 29,015 were reported by Horizon Investment Svcs Limited Company.

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

The stock of Office Depot, Inc. (NASDAQ:ODP) hit a new 52-week low and has $1.92 target or 7.00 % below today’s $2.07 share price. The 5 months bearish chart indicates high risk for the $1.15 billion company. The 1-year low was reported on Apr, 16 by If the $1.92 price target is reached, the company will be worth $80.36M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock.

The stock increased 1.72% or $0.035 during the last trading session, reaching $2.065. About 1.24M shares traded. Office Depot, Inc. (NASDAQ:ODP) has declined 52.71% since April 16, 2017 and is downtrending. It has underperformed by 64.26% the S&P500.

Analysts await Office Depot, Inc. (NASDAQ:ODP) to report earnings on May, 8. They expect $0.11 EPS, down 31.25 % or $0.05 from last year’s $0.16 per share. ODP’s profit will be $61.15M for 4.69 P/E if the $0.11 EPS becomes a reality. After $0.08 actual EPS reported by Office Depot, Inc. for the previous quarter, Wall Street now forecasts 37.50 % EPS growth.

Office Depot, Inc. (NASDAQ:ODP) Ratings Coverage

Among 2 analysts covering Office Depot (NASDAQ:ODP), 0 have Buy rating, 2 Sell and 0 Hold. Therefore 0 are positive. Office Depot had 2 analyst reports since October 30, 2017 according to SRatingsIntel. The firm has “Sell” rating by J.P. Morgan given on Monday, October 30. The rating was downgraded by JP Morgan on Monday, October 30 to “Underweight”.

Office Depot, Inc., together with its subsidiaries, supplies office services and products in North America. The company has market cap of $1.15 billion. The firm operates in two divisions, North American Retail and North American Business Solutions. It has a 6.16 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.

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

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