ODP (NASDAQ: ODP – Get Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.
Separately, UBS Group lowered their price objective on ODP from $ 50.00 to $ 41.00 and set a “neutral” rating for the company in a research note on Thursday.
ODP Trading Up 1.0%
NASDAQ: RIP traded up $ 0.38 on Friday, hitting $ 37.13. 515,927 shares of the stock were exchanged, compared to its average volume of 420,629. The stock has a market cap of $ 1.83 billion, a PE ratio of -20.86 and a beta of 1.89. The company has a current ratio of 1.06, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12. The stock has a fifty day moving average of $ 34.53 and a 200-day moving average of $ 40.62. ODP has a fifty-two week low of $ 28.85 and a fifty-two week high of $ 48.00.
ODP (NASDAQ: ODP – Get Rating) last posted its earnings results on Wednesday, August 3rd. The specialty retailer reported $ 0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 0.46 by $ 0.33. ODP had a positive return on equity of 14.99% and a negative net margin of 1.08%. The business had revenue of $ 2.03 billion during the quarter, compared to analyst estimates of $ 2.04 billion. During the same quarter last year, the firm earned $ 0.51 earnings per share. The company’s revenue for the quarter was down 11.0% compared to the same quarter last year. As a group, equities analysts expect that ODP will post 4.3 earnings per share for the current fiscal year.
Hedge Funds Weigh In On ODP
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Investors Asset Management of Georgia Inc. GA ADV grew its position 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 buying 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 acquiring an additional 270 shares during 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 acquiring an additional 306 shares during 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 acquiring an additional 343 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in ODP by 15.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,470 shares of the specialty retailer’s stock valued at $ 105,000 after acquiring an additional 470 shares during the last quarter. Institutional investors own 94.48% 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. 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
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