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

ODP (NASDAQ:ODP) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

ODP Price Performance

Shares of ODP opened at $13.71 on Friday. The business’s fifty day moving average is $15.45 and its 200 day moving average is $22.40. ODP has a 12-month low of $11.85 and a 12-month high of $52.69. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The stock has a market cap of $408.80 million, a P/E ratio of -15.07, a P/E/G ratio of 0.30 and a beta of 1.45.

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

Institutional Investors Weigh In On ODP

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of ODP by 0.4% in the third quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after acquiring an additional 3,041 shares in the last quarter. GAMMA Investing LLC grew its stake in ODP by 380.1% in the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after purchasing an additional 3,071 shares during the period. Barclays PLC increased its position in shares of ODP by 114.3% during the 3rd quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock valued at $2,965,000 after purchasing an additional 53,160 shares during the last quarter. Amundi raised its stake in shares of ODP by 175.9% during the 4th quarter. Amundi now owns 16,474 shares of the specialty retailer’s stock worth $368,000 after purchasing an additional 10,504 shares during the period. Finally, State Street Corp grew its position in ODP by 5.0% during the third quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock valued at $45,896,000 after buying an additional 74,015 shares during the period. Hedge funds and other institutional investors own 99.56% of the company’s stock.

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.