Office Depot (ODP) Receives a Buy from Merrill Lynch


Merrill Lynch analyst Elizabeth Lane Suzuki reiterated a Buy rating on Office Depot (NASDAQ: ODP) today and set a price target of $4. The company’s shares opened today at $2.86.

According to TipRanks.com, Suzuki is ranked #2070 out of 4849 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Office Depot with a $2.73 average price target.

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Based on Office Depot’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.83 billion and net profit of $42 million. In comparison, last year the company earned revenue of $2.36 billion and had a net profit of $11 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ODP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Office Depot, Inc. engages in the provision of office products, services, supplies, and technology solutions. It operates through the following segments: Retail, Business Solutions, and CompuCom.

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