ODP (NASDAQ:ODP) Downgraded by StockNews.com

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

Other research analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of ODP from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Thursday, March 31st. Colliers Securities assumed coverage on shares of ODP in a research report on Friday, January 28th. They set a “buy” rating and a $57.00 price target on the stock.

ODP opened at $45.93 on Tuesday. The company’s 50 day simple moving average is $44.81 and its 200 day simple moving average is $42.65. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.68 and a current ratio of 1.05. ODP has a 1 year low of $34.71 and a 1 year high of $51.40. The stock has a market capitalization of $2.23 billion, a PE ratio of -11.26 and a beta of 1.91.

ODP (NASDAQ:ODPGet Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The specialty retailer reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.23. The firm had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $1.98 billion. ODP had a negative net margin of 2.34% and a positive return on equity of 12.91%. ODP’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.55 earnings per share. As a group, sell-side analysts expect that ODP will post 4.47 earnings per share for the current fiscal 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 shares were sold at an average price of $42.48, for a total transaction of $1,413,522.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Gannfors sold 11,899 shares of ODP stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $46.42, for a total transaction of $552,351.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,592 shares of company stock worth $2,164,684. Corporate insiders own 3.00% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Deutsche Bank AG increased its stake in shares of ODP by 0.4% in the fourth quarter. Deutsche Bank AG now owns 77,281 shares of the specialty retailer’s stock worth $3,035,000 after buying an additional 314 shares during the last quarter. Arizona State Retirement System increased its stake in shares of ODP by 2.5% in the third quarter. Arizona State Retirement System now owns 14,913 shares of the specialty retailer’s stock worth $599,000 after buying an additional 364 shares during the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of ODP by 0.3% in the fourth quarter. Parametric Portfolio Associates LLC now owns 175,529 shares of the specialty retailer’s stock worth $6,895,000 after buying an additional 460 shares during the last quarter. Legal & General Group Plc increased its stake in shares of ODP by 0.5% in the fourth quarter. Legal & General Group Plc now owns 139,639 shares of the specialty retailer’s stock worth $5,485,000 after buying an additional 698 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of ODP in the third quarter worth $36,000. Institutional investors and hedge funds own 87.60% of the company’s stock.

About ODP (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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