ODP (NASDAQ:ODP) Upgraded at StockNews.com

ODP (NASDAQ:ODPGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Monday.

Several other brokerages have also commented on ODP. Zacks Investment Research upgraded ODP from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Thursday, March 31st. Colliers Securities assumed coverage on ODP in a research report on Friday, January 28th. They issued a “buy” rating and a $57.00 target price for the company.

NASDAQ:ODP traded down $0.56 on Monday, reaching $44.94. The stock had a trading volume of 375,232 shares, compared to its average volume of 391,487. The company has a current ratio of 1.05, a quick ratio of 0.68 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $44.60 and a 200 day moving average of $42.54. The stock has a market cap of $2.18 billion, a P/E ratio of -11.01 and a beta of 1.91. ODP has a 12-month low of $34.71 and a 12-month high of $51.40.

ODP (NASDAQ:ODPGet Rating) last announced its quarterly earnings data on Wednesday, February 23rd. The specialty retailer reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.23. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.98 billion. ODP had a positive return on equity of 12.91% and a negative net margin of 2.34%. ODP’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. On average, equities analysts predict that ODP will post 4.47 EPS for the current year.

In other news, CEO Gerry P. Smith sold 33,275 shares of the business’s stock in a transaction on Monday, January 24th. The stock was sold at an average price of $42.48, for a total value of $1,413,522.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Gannfors sold 4,418 shares of the business’s stock in a transaction on Wednesday, March 16th. The stock was sold at an average price of $45.00, for a total value of $198,810.00. The disclosure for this sale can be found here. Insiders have sold a total of 49,592 shares of company stock valued at $2,164,684 in the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. grew its holdings in shares of ODP by 70.3% during the first quarter. Pacer Advisors Inc. now owns 240,334 shares of the specialty retailer’s stock valued at $11,015,000 after buying an additional 99,237 shares in the last quarter. Norges Bank purchased a new position in shares of ODP during the fourth quarter valued at $24,024,000. BlackRock Inc. grew its holdings in shares of ODP by 0.4% during the fourth quarter. BlackRock Inc. now owns 7,412,189 shares of the specialty retailer’s stock valued at $291,150,000 after buying an additional 31,041 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of ODP by 83.7% during the fourth quarter. Wells Fargo & Company MN now owns 68,070 shares of the specialty retailer’s stock valued at $2,673,000 after buying an additional 31,019 shares in the last quarter. Finally, SkyView Investment Advisors LLC purchased a new position in shares of ODP during the fourth quarter valued at $364,000. 87.60% of the stock is currently owned by institutional investors.

ODP Company Profile (Get Rating)

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses. The company operates in two divisions, Business Solutions and Retail. The Business Solutions division offers office supply products and services, cleaning and breakroom supplies, technology services, copy and print services, and office furniture products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, the U.S.

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