StockNews.com Lowers ODP (NASDAQ:ODP) to Hold

StockNews.com cut shares of ODP (NASDAQ:ODP) from a buy rating to a hold rating in a report published on Thursday.

Separately, UBS Group cut their target price on ODP from $53.00 to $30.00 and set a neutral rating on the stock in a report on Thursday.

ODP Stock Performance

ODP stock opened at $25.52 on Thursday. The firm has a 50 day simple moving average of $38.83 and a 200 day simple moving average of $45.84. ODP has a 52 week low of $23.69 and a 52 week high of $58.98. The stock has a market cap of $916.04 million, a P/E ratio of 12.33, a P/E/G ratio of 0.45 and a beta of 1.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.49 and a current ratio of 0.94.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.64). ODP had a net margin of 1.08% and a return on equity of 16.67%. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.76 billion. During the same period last year, the business earned $0.99 EPS. The company’s quarterly revenue was down 10.0% on a year-over-year basis. Research analysts anticipate that ODP will post 6.4 earnings per share for the current fiscal year.

Institutional Trading of ODP

Several hedge funds have recently added to or reduced their stakes in ODP. CWM LLC lifted its holdings in shares of ODP by 81.3% during the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock worth $37,000 after buying an additional 422 shares during the last quarter. Quest Partners LLC acquired a new position in ODP during the 4th quarter valued at $63,000. Innealta Capital LLC bought a new stake in ODP in the 2nd quarter valued at $68,000. Gladius Capital Management LP grew its position in ODP by 227.8% in the 2nd quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock worth $86,000 after purchasing an additional 1,515 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in shares of ODP during the 4th quarter worth about $201,000. Institutional investors own 99.56% of the company’s stock.

About ODP

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.