Office Depot Receives a Hold from Oppenheimer

By Austin Angelo

Oppenheimer analyst Brian Nagel assigned a Hold rating to Office Depot (NASDAQ: ODP) yesterday. The company’s shares closed yesterday at $3.51, close to its 52-week low of $3.10.

According to TipRanks.com, Nagel is a 3-star analyst with an average return of 0.9% and a 44.2% success rate. Nagel covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Advance Auto Parts, and Lumber Liquidators.

Office Depot has an analyst consensus of Hold.

Office Depot’s market cap is currently $1.91B and has a P/E ratio of 7.02. The company has a book value ratio of 1.0264.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is neutral on the stock. Most recently, in August 2016, Michael R. Allison, the EVP, Chief People Officer of ODP sold 23,434 shares for a total of $85,075.

Office Depot, Inc. engages in the provision of providing products, services, and solutions for the workplace such as office, home, school, or car. Its portfolio of brands includes Office Depot, OfficeMax, OfficeMax Grand and Toy, Viking, ATIVA, TUL, FORAY and DiVOGA. It operates through the following: North American Retail, North American Business Solutions, and International division. The North American Retail division offers products and services in the following categories: supplies, technology, and furniture. The North American Business Solutions division involves in copy and print services. The International division comprises of restructuring activities, including disposing of assets and streamlining processes. The company was founded by Stephen Dougherty in March 1986 and is headquartered in Boca Raton, FL.