Office Depot (ODP) in Focus: Stock Tumbles 8.8% – Tale of the Tape

Zacks

Office Depot, Inc. (ODP) saw a big move last session, as the company’s shares fell nearly 9% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This reverses the recent trend for ODP, as the stock is now up nearly 12% since Feb 3.

This supplier of office products and services has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for earnings estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.

ODP currently has a Zacks Rank #5 (Strong Sell) while its Earnings ESP is 0.00%.

Some better-ranked stocks in the Retail Miscellaneous industry include ITOCHU Corporation (ITOCY) , and Kingfisher plc (KGFHY).While ITOCHU holds a Zacks Rank #1 (Strong Buy), Kingfisher carries a Zacks Rank #2 ( Buy).

Investors interested in the Retail Sector may consider a better-ranked stock like Advance Auto Parts Inc. (AAP), which carries a Zacks Rank #1 (Strong Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

To read this article on Zacks.com click here.

Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.

Be the first to comment

Leave a Reply