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Office Depot, Inc. Message Board

  • marginspender marginspender Aug 6, 1999 11:10 AM Flag

    This is amazing!

    Who is selling at these prices? ODP is such a bargain. I have to believe it will come back soon.

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    • Office Depot (ODP) 13 3/4. Beaten up so badly
      it's worth a look. After warning following the market
      close yesterday, Office Depot traded down to about 10
      1/2 in after hours trading. Then this morning,
      PaineWebber downgraded the stock from "buy" to "attractive".
      This was a $25 stock just five months ago, but since
      then it has been straight down. Frankly, this is
      surprising (in hindsight), because ODP posted had steady,
      decent results for years, and seemed to be reasonably
      well managed. The stock had not been a superstar, but
      had put in a consistent performance over the past few
      years. In fact, the numbers ODP are now talking about
      aren't all that terrible. ODP says that second half
      earnings will be in the $0.38 to $0.40 per share range
      rather than the $0.50 to $0.52 per share range Wall
      Street had been expecting. We've seen a lot worse
      warnings. And, even if earnings come at $0.38 per share,
      that would still leave 1999 earnings at $0.82 per
      share. Not too bad for a 10 1/2 dollar stock, because
      that puts its good old fashioned price/earnings
      multiple at a reasonable 12.8. Multiples like that are
      hard to find these days. ODP earned a split-adjusted
      operating profit of $0.79 per share last year, so that
      still represents a bit of growth for the full year,
      although results for the second half of the year would be
      about flat. Given all this, Briefing.com is going to
      stick our neck out a bit for a beaten up stock. ODP is
      not going to turn into a hot stock soon, but there is
      some value here. Concerns include the effect of the
      Internet on their bricks and mortar business and the fact
      that there have been too many write-offs lately.
      However, the worst may now be in this stock and it is
      worthy of consideration for patient investors. - DG

    • In post #2052 on 8/6/99, I thought $10 was the
      rock bottom price, but now I am not sure. OMX is
      trading at 7 11/16 with current earnings expectations of
      .93 this year and 1.08 next year. The new
      expectations for ODP are around .85 and 1.00.

      ODP is
      now a tainted stock too. It will take a while to get
      the stigma off the stock. ODP failed to deliver with
      their new inventory system. It seems as though they In
      retail if you don't have what customers want they go
      next door to WMT, SPLS, or Target. It sounds like
      their new stores must have been ill conceived because
      sells are very weak in the new stores. My understanding
      is that they lost some good people in the real
      estate area during the merger attempt. That would be a
      very good explanation for the failure of the new
      stores. Once again in retail you must put the store close
      to the high traffic areas. Bubba isn't going to
      drive 2 miles out of his way to save .25 on a stapler.
      He will just buy it at ABS when he gets his beer if
      the office products store isn't close
      enough.

      Some people are trying to compare ODP to CPU, but
      there are some big differences. Neither CPU or ODP will
      make money on PC's, but ODP does sell a lot of high
      margin items that CPU doesn't.

      I am adjusting my
      low-end target to around $8 a share. ODP's problems are
      not quite as bad as OMX. ODP will probably not trade
      above $12 until it proves it can execute. Institutions
      will wait until the first or second quarter of next
      year to see if ODP is getting back on track. Until
      then I see a $8 to $12 stock.

    • I am fairly new here, but have been a Staples
      shareholder for 4-5 years. I began buying into ODP a few
      months ago and am a long term investor.

      I have
      been busy and mostly offline for the past 10 days and
      am now catching up on the past couple of weeks'
      postings. I just now read the info you posted [#2093-2095]
      and wanted to thank you. It was very informative and
      enjoyable and is really not that old. My first purchase was
      100 at $19 and I took advantage of the recent price
      drop to buy 100 at $15 7/8; not a lot,but now I have
      200 shares to keep for many years!
      [retirementsavings!]Thanks again. -tofu-

    • The SPLS merger attempt. It was what gave SPLS the edge. They should have continued to build even when the merger was in progress. It is time, which ODP can never get back.

    • Maybe.... ODP should buy SPLS?
      Nahhh, those
      Yankees would have a hard time taking direction from a
      bunch of Southerners anyway.

      Tip: If you want to
      make some money this year dump ODP and buy MER.

    • Company is heading in the $10 - $12 range. As a
      group, ODP, SPLS, CEXP, OFIS, BOP are ALL sucking wind!
      I am looking for more consolidation in the office
      products industry very shortly. The interesting company is
      BOP. How are they going to compete with a 9B BT/CEXP?
      Things are getting interesting!

      Your thoughts?

    • white candle on the dow? yes....on ODP?
      no.....

      here's a neat article that tells about
      candlesticks:


      http://www.equis.com/free/taaz/candlesticks.html

      and as you'll see, they are Japanese candles (where
      I've been calling them Chinese)....shows how much I
      know!.....(apologies to any Chinese or Japanese readers...no offense
      intended)

      you can follow the candlestick charts at
      www.bigcharts.com (free)

      TA on ODP can be summed up in one
      word: "stillbad"....(ok, I cheated, but it's better
      than droning on and on about moving indicators and
      such, right?).....

      General market is a different
      story......(I have to go on and on a little).....

      the
      dow did have a little bounce today.....and the 20 day
      didn't cross the 50 day moving average....yet.....but
      the 18 day has, and the 19 day is touching the
      50......will friday 13 be the lucky day????.......also, it
      looks like if the dow closes below 10,650 (aprox)the
      next support is not until around 10,000.....(actually,
      I think my program identified something like 10,649
      & change as support, but no need to split
      atoms....)

      the 20 day DID touch the 50 day on the S&P 500
      today.....

      and the transports still look aweful......

      not
      to mention all the anal-ists touting how many
      bargains are out there today......

      I think I'll put
      my checkbook away for another few
      days......

      hoping, again, that I'm wrong.....

      best of luck to
      all

    • ODP has just announced the retirement of Irwin Helford as full time president of Viking.

    • classify as a white candle? You mentioned this phenomenon a few weeks back. Thanks.

    • View More Messages
 
ODP
5.01+0.06(+1.21%)Aug 22 4:02 PMEDT

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