Fintel reports that on May 12, 2023, CFRA upgraded their outlook for Office Depot (NASDAQ:ODP) from Hold to Buy .
Analyst Price Forecast Suggests 34.02% Upside
As of May 11, 2023, the average one-year price target for Office Depot is 56.10. The forecasts range from a low of 55.55 to a high of $57.75. The average price target represents an increase of 34.02% from its latest reported closing price of 41.86.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Office Depot is 8,421MM, a decrease of 0.00%. The projected annual non-GAAP EPS is 4.24.
What is the Fund Sentiment?
There are 521 funds or institutions reporting positions in Office Depot. This is an increase of 2 owner(s) or 0.39% in the last quarter. Average portfolio weight of all funds dedicated to ODP is 0.24%, an increase of 3.45%. Total shares owned by institutions decreased in the last three months by 3.28% to 48,539K shares. 
The put/call ratio of ODP is 1.60, indicating a bearish outlook.
What are Other Shareholders Doing?
HG Vora Capital Management holds 5,000K shares representing 12.45% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,987K shares representing 7.44% ownership of the company. In it's prior filing, the firm reported owning 3,127K shares, representing a decrease of 4.66%. The firm increased its portfolio allocation in ODP by 12.62% over the last quarter.
Lsv Asset Management holds 1,898K shares representing 4.73% ownership of the company. In it's prior filing, the firm reported owning 1,979K shares, representing a decrease of 4.26%. The firm decreased its portfolio allocation in ODP by 3.65% over the last quarter.
Greenlight Capital holds 1,651K shares representing 4.11% ownership of the company. In it's prior filing, the firm reported owning 1,693K shares, representing a decrease of 2.50%. The firm increased its portfolio allocation in ODP by 23.58% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,183K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 1,263K shares, representing a decrease of 6.70%. The firm increased its portfolio allocation in ODP by 12.13% over the last quarter.
ODP Corporation Background Information
(This description is provided by the company.)
The ODP Corporation is a leading provider of business services and supplies, products and digital workplace technology solutions to small, medium and enterprise businesses, through an integrated business-to-business (B2B) distribution platform, which includes world-class supply chain and distribution operations, dedicated sales professionals and technicians, online presence, and approximately 1,200 stores. Through its banner brands Office Depot®, OfficeMax®, CompuCom® and Grand&Toy®, as well as others, the Company offers its customers the tools and resources they need to focus on their passion of starting, growing and running their business.
See all Office Depot regulatory filings.This story originally appeared on Fintel.
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