NEW YORK (TheStreet) -- Shares of Office Depot (ODP) - Get Report are up by 1.98% to $3.60 in pre-market trading on Tuesday, after the office supplies company announced a share repurchase program of up to $100 million.
"As we communicated on May 16, we are finalizing our comprehensive strategic review, which includes capital structure and return of capital alternatives," CEO Roland Smith said in a statement.
Earlier this month, U.S. District Court Judge Emmet Sullivan blocked Office Depot's planned merger with rival Staples (SPLS) on competition concerns.
"We are continuing to work with our advisors to explore additional opportunities to further enhance shareholder value," Smith added.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.
Office Depot's strengths such as its increase in net income, largely solid financial position with reasonable debt levels by most measures and notable return on equity are countered by weaknesses including a generally disappointing performance in the stock itself, poor profit margins and weak operating cash flow.
You can view the full analysis from the report here: ODP
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.