ODP (NASDAQ:ODP) Stock Rating Lowered by StockNews.com

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

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

ODP Price Performance

NASDAQ:ODP opened at $22.60 on Friday. ODP has a twelve month low of $21.52 and a twelve month high of $58.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The firm has a 50-day moving average price of $24.51 and a two-hundred day moving average price of $28.76.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The company had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company posted $1.88 EPS. ODP’s quarterly revenue was down 11.3% compared to the same quarter last year. Analysts expect that ODP will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP lifted its stake in shares of ODP by 170.3% in the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock valued at $43,000 after purchasing an additional 688 shares in the last quarter. KBC Group NV grew its stake in ODP by 88.9% during the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after buying an additional 868 shares during the period. GAMMA Investing LLC increased its position in shares of ODP by 380.1% in the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock worth $88,000 after acquiring an additional 3,071 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of ODP during the 3rd quarter valued at $104,000. Finally, New York State Common Retirement Fund boosted its position in ODP by 17.6% during the 4th quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer’s stock worth $258,000 after purchasing an additional 1,700 shares during the period. Institutional investors and hedge funds 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.