Is It Time To Be Bullish On Office Depot, Inc. (ODP)?

Wall Street analysts will be watching closely when Office Depot, Inc. (NASDAQ:ODP) reports its quarterly earnings next, which is scheduled for Wed 27 Feb (In 57 Days). Looking at the latest analyst forecasts, the current earnings-per-share (EPS) consensus estimate is sitting at $0.07 per share. In the preceding quarter, the company reportedly generated EPS of $0.13 per share of its common stock. Looking at profitability indicators, this organization has an operating margin of 2.60%, a profit margin of 0.60% and a gross margin of 23.40%.

Speaking of Wall Street analysts, a number of market experts at top investment banks have recently posted their updated ratings on shares of Office Depot, Inc. (NASDAQ:ODP). Most recently, on October 30th, 2017, JP Morgan Downgrade a Underweight rating. Before that, on September 5th, 2017, BofA/Merrill Resumed to Buy. Telsey Advisory Group Reiterated a Market Perform rating on May 10th, 2017, Loop Capital Initiated an Hold rating on December 13th, 2016, and Telsey Advisory Group Reiterated a Market Perform rating on October 28th, 2016.

At its current price point, combined with the fact that this company has 551.00M shares outstanding, the current market capitalization sits at 1.42B. In the last trading day, 4,720,745 shares of Office Depot, Inc. were traded, which compares to its usual volume of about 5.65M shares per day of trading.

If we compare this company’s current price to its recent pricing activity, we can see that the price has changed by $0.46 in the past five trading days, resulting in a percentage change of +10.26% and a moving average of 2.47. In the past 20 days, its price changed by -$0.71 (which is -21.58%) and the stock’s moving average was 2.73. Looking back a full 50 days, shares of ODP changed by -$0.20 (which is -7.19%) and demonstrated a moving average of 2.85.

Staying in the same analytical area, this company’s stock has demonstrated a 9-day Stochastic %K score of 61.99%, a 14-day Stochastic %K score of 44.20% and a 20-day Stochastic %K score of 34.82%. Using a similar metric, Office Depot, Inc. (ODP) shares showed a Stochastic %D of 50.53% over the past 9 days, a Stochastic %D score of 38.05% over the last 14 days, and a 20-day Stochastic %D of 31.58%. Meanwhile, this stock’s MACD Oscillator was 0.07 over the past 9 days, -0.06 over the past two weeks, and -0.22 in the last 20 days.

As recent trading data suggests, this company’s shares have been hovering close to the $2.58 level. Over the past 12 months, this stock has experienced a high price of $3.66 and a low of $2.00. Top market experts pay heightened attention to a stock as it is getting closer to a notable historic high price or low price.

BlackRock Fund Advisors purchased more shares of this company during the last fiscal quarter, as we can observe in the latest corresponding filing from Office Depot, Inc. (NASDAQ:ODP) with the Securities and Exchange Commission (SEC). This specific major shareholder, at the end of the quarter, held 74,088,085 shares of the company’s stock following the addition of 6,005,195 to this investor’s holdings during the three-month period. This share count represents that BlackRock Fund Advisors now held 13.54% stake in Office Depot, Inc. (ODP)’s shares.

Just in the most recent trading day, Office Depot, Inc. (NASDAQ:ODP) experienced a high price of $2.61 and low point of $2.51. At the end of the last trading session, this stock was at 2.58 per share, following a gain of $0.04, or 2.38% during the full day.