ODP (NASDAQ:ODP) Cut to Hold at StockNews.com

ODP (NASDAQ:ODP) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Separately, UBS Group cut their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th.

ODP Stock Down 0.6 %

Shares of ODP opened at $23.39 on Friday. The business’s 50 day moving average is $24.60 and its 200 day moving average is $28.88. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. ODP has a 12-month low of $21.52 and a 12-month high of $58.13. The company has a market capitalization of $704.51 million, a PE ratio of -25.70, a price-to-earnings-growth ratio of 0.38 and a beta of 1.40.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.89). The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The company’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.88 EPS. Research analysts expect that ODP will post 3.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ODP

Several institutional investors have recently bought and sold shares of ODP. Empowered Funds LLC boosted its holdings in shares of ODP by 5.1% in the 4th quarter. Empowered Funds LLC now owns 194,875 shares of the specialty retailer’s stock worth $4,431,000 after purchasing an additional 9,448 shares during the period. Wedge Capital Management L L P NC boosted its stake in ODP by 8.4% during the fourth quarter. Wedge Capital Management L L P NC now owns 49,960 shares of the specialty retailer’s stock worth $1,136,000 after buying an additional 3,892 shares during the period. Harbor Capital Advisors Inc. increased its position in ODP by 1.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 82,784 shares of the specialty retailer’s stock valued at $1,883,000 after acquiring an additional 1,240 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of ODP by 380.1% in the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after acquiring an additional 3,071 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of ODP by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after acquiring an additional 459 shares during the last quarter. Institutional investors own 99.56% of the company’s stock.

ODP Company Profile

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses in the United States, Puerto Rico, and the U.S. Virgin Islands. The company operates through four divisions: ODP Business Solutions, Office Depot, Veyer, and Varis.