ODP (NASDAQ:ODP) Raised to Buy at StockNews.com

ODP (NASDAQ:ODP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

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

ODP Price Performance

Shares of ODP opened at $27.95 on Thursday. The business has a 50-day simple moving average of $29.83 and a two-hundred day simple moving average of $35.80. ODP has a 12-month low of $23.69 and a 12-month high of $58.98. The stock has a market cap of $938.56 million, a PE ratio of -30.71, a PEG ratio of 0.57 and a beta of 1.48. The company has a quick ratio of 0.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last issued its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.64). The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.76 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. ODP’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. Analysts anticipate that ODP will post 3.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. CWM LLC boosted its position in shares of ODP by 81.3% during the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 422 shares during the last quarter. Quarry LP boosted its holdings in ODP by 170.3% during the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 688 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of ODP in the 2nd quarter worth $68,000. KBC Group NV grew its stake in shares of ODP by 88.9% in the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after acquiring an additional 868 shares in the last quarter. Finally, Gladius Capital Management LP raised its holdings in shares of ODP by 227.8% in the second quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock valued at $86,000 after purchasing an additional 1,515 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

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.