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

ODP (NASDAQ: ODP – Get Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

Shares of ODP traded down $ 1.29 during mid-day trading on Wednesday, hitting $ 28.96. 846,599 shares of the company traded hands, compared to its average volume of 426,217. ODP has a 1-year low of $ 28.89 and a 1-year high of $ 50.29. The company has a quick ratio of 0.60, a current ratio of 1.04 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $ 1.42 billion, a PE ratio of -7.35 and a beta of 1.84. The business has a 50 day moving average of $ 40.58 and a 200 day moving average of $ 42.05.

ODP (NASDAQ: ODP – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The specialty retailer reported $ 1.27 earnings per share for the quarter. ODP had a negative net margin of 2.37% and a positive return on equity of 13.58%. The company had revenue of $ 2.18 billion for the quarter, compared to the consensus estimate of $ 2.13 billion. During the same quarter in the prior year, the company earned $ 1.21 EPS. ODP’s quarterly revenue was down 7.9% on a year-over-year basis.

Several large investors have recently made changes to their positions in ODP. Investors Asset Management of Georgia Inc. GA ADV lifted its holdings in ODP by 0.6% in the 1st quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 39,676 shares of the specialty retailer’s stock valued at $ 1,818,000 after purchasing an additional 235 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in ODP by 9.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the specialty retailer’s stock valued at $ 139,000 after purchasing an additional 270 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in ODP by 2.9% in the 1st quarter. Teacher Retirement System of Texas now owns 10,702 shares of the specialty retailer’s stock valued at $ 490,000 after purchasing an additional 306 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in ODP by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 6,614 shares of the specialty retailer’s stock valued at $ 303,000 after purchasing an additional 343 shares in the last quarter. Finally, KB Financial Partners LLC lifted its holdings in ODP by 7.0% in the 1st quarter. KB Financial Partners LLC now owns 9,344 shares of the specialty retailer’s stock valued at $ 428,000 after purchasing an additional 608 shares in the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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 US

Further Reading

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