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

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

Separately, UBS Group lowered their target price on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th.

ODP Price Performance

NASDAQ:ODP opened at $15.56 on Friday. ODP has a 12 month low of $13.44 and a 12 month high of $58.13. The stock has a 50 day moving average of $21.68 and a two-hundred day moving average of $26.16. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The firm has a market cap of $468.64 million, a P/E ratio of -17.10, a price-to-earnings-growth ratio of 0.30 and a beta of 1.38.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ODP. KBC Group NV boosted its holdings in shares of ODP by 88.9% during the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 868 shares during the last quarter. GAMMA Investing LLC lifted its holdings in ODP by 380.1% in the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after acquiring an additional 3,071 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in ODP by 38.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer’s stock valued at $98,000 after acquiring an additional 1,198 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in ODP in the fourth quarter valued at approximately $143,000. Finally, KLP Kapitalforvaltning AS acquired a new position in ODP in the fourth quarter valued at approximately $150,000. 99.56% of the stock is currently owned by institutional investors and hedge funds.

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.