ODP (NASDAQ:ODP) Rating Lowered to “Hold” at StockNews.com

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

Separately, UBS Group lowered their target price on shares of ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th.

ODP Stock Up 1.8 %

NASDAQ:ODP opened at $15.56 on Friday. ODP has a fifty-two week low of $13.44 and a fifty-two week high of $58.13. The stock has a market capitalization of $468.64 million, a P/E ratio of -17.10, a P/E/G ratio of 0.30 and a beta of 1.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The company’s 50-day simple moving average is $21.68 and its 200-day simple moving average is $26.16.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. On average, equities analysts anticipate that ODP will post 3.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ODP

A number of institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in ODP during the 4th quarter worth approximately $1,972,000. Mackenzie Financial Corp purchased a new position in ODP during the 4th quarter worth approximately $314,000. Toronto Dominion Bank purchased a new position in ODP during the 4th quarter worth approximately $7,149,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in ODP by 29.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 106,804 shares of the specialty retailer’s stock worth $2,429,000 after buying an additional 24,198 shares during the last quarter. Finally, Vident Advisory LLC raised its position in ODP by 27.8% during the 4th quarter. Vident Advisory LLC now owns 20,915 shares of the specialty retailer’s stock worth $476,000 after buying an additional 4,548 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

About ODP

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.