ODP (NASDAQ:ODP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of ODP (NASDAQ:ODPGet Rating) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning.

ODP has been the topic of several other reports. Colliers Securities assumed coverage on ODP in a research note on Friday, January 28th. They set a buy rating and a $57.00 price target on the stock. Zacks Investment Research upgraded ODP from a hold rating to a buy rating and set a $53.00 price objective on the stock in a research report on Thursday, March 31st.

Shares of ODP stock opened at $42.44 on Tuesday. ODP has a 12 month low of $34.71 and a 12 month high of $51.40. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.12. The firm has a market cap of $2.09 billion, a PE ratio of -10.77 and a beta of 1.83. The stock has a 50 day moving average of $45.04 and a 200-day moving average of $42.79.

ODP (NASDAQ:ODPGet Rating) last released its earnings results on Wednesday, May 4th. The specialty retailer reported $1.27 EPS for the quarter, beating the consensus estimate of $0.79 by $0.48. ODP had a negative net margin of 2.37% and a positive return on equity of 13.58%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company earned $1.21 EPS. The business’s quarterly revenue was down 7.9% compared to the same quarter last year.

In other news, EVP John Gannfors sold 11,899 shares of the stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $46.42, for a total value of $552,351.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new position in ODP in the third quarter valued at about $36,000. Mascoma Wealth Management LLC acquired a new position in shares of ODP in the 1st quarter worth approximately $74,000. Gladius Capital Management LP bought a new stake in ODP during the 4th quarter worth approximately $106,000. SkyView Investment Advisors LLC acquired a new stake in ODP during the 4th quarter valued at $364,000. Finally, Strs Ohio bought a new position in ODP in the 1st quarter valued at $215,000. Institutional investors and hedge funds own 94.48% 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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