UBS Group Lowers ODP (NASDAQ:ODP) Price Target to $28.00

ODP (NASDAQ:ODP) had its price target reduced by research analysts at UBS Group from $30.00 to $28.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s target price would suggest a potential upside of 0.18% from the company’s current price.

Separately, StockNews.com cut ODP from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th.

ODP Stock Performance

Shares of ODP traded up $0.22 during mid-day trading on Thursday, reaching $27.95. 494,613 shares of the company’s stock were exchanged, compared to its average volume of 527,391. The business’s fifty day simple moving average is $29.83 and its 200-day simple moving average is $35.80. ODP has a 52-week low of $23.69 and a 52-week high of $58.98. The stock has a market capitalization of $938.56 million, a PE ratio of -30.71, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.43.

ODP (NASDAQ:ODP) last announced its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.89). The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. ODP’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the company posted $1.88 EPS. On average, equities research analysts expect that ODP will post 3.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. ProShare Advisors LLC raised its position in ODP by 5.7% in the first quarter. ProShare Advisors LLC now owns 6,462 shares of the specialty retailer’s stock worth $343,000 after acquiring an additional 348 shares in the last quarter. Texas Permanent School Fund Corp grew its stake in ODP by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 29,114 shares of the specialty retailer’s stock valued at $1,544,000 after acquiring an additional 375 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in ODP by 2.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer’s stock valued at $569,000 after acquiring an additional 394 shares in the last quarter. SummerHaven Investment Management LLC raised its position in ODP by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 15,830 shares of the specialty retailer’s stock worth $622,000 after acquiring an additional 399 shares during the last quarter. Finally, CWM LLC grew its position in shares of ODP by 81.3% in the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after purchasing an additional 422 shares during the last quarter. Hedge funds and other 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.