ODP (NASDAQ:ODP) Trading Up 5.1% – Still a Buy?

The ODP Co. (NASDAQ:ODPGet Free Report)’s stock price was up 5.1% during trading on Tuesday . The stock traded as high as $22.91 and last traded at $22.85. Approximately 53,813 shares changed hands during trading, a decline of 89% from the average daily volume of 479,009 shares. The stock had previously closed at $21.75.

Analyst Ratings Changes

A number of research firms have recently commented on ODP. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group reduced their price target on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th.

Read Our Latest Report on ODP

ODP Price Performance

The stock has a market capitalization of $684.88 million, a P/E ratio of -24.99, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. The company’s 50-day simple moving average is $26.73 and its 200-day simple moving average is $31.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47.

ODP (NASDAQ:ODPGet Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm earned $1.88 EPS. ODP’s quarterly revenue was down 11.3% compared to the same quarter last year. As a group, sell-side analysts expect that The ODP Co. will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Weiss Asset Management LP increased its stake in shares of ODP by 2,219.3% during the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock worth $16,992,000 after purchasing an additional 546,525 shares during the period. DME Capital Management LP increased its position in ODP by 29.9% during the 2nd quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock worth $87,276,000 after buying an additional 511,890 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in shares of ODP by 106.3% during the second quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer’s stock worth $12,966,000 after buying an additional 170,149 shares in the last quarter. American Century Companies Inc. boosted its position in shares of ODP by 19.6% in the second quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock valued at $32,707,000 after acquiring an additional 136,730 shares during the period. Finally, Mork Capital Management LLC grew its stake in shares of ODP by 150.0% in the third quarter. Mork Capital Management LLC now owns 125,000 shares of the specialty retailer’s stock valued at $3,719,000 after acquiring an additional 75,000 shares in the last quarter. 99.56% of the stock is owned by institutional investors.

ODP Company Profile

(Get Free Report)

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.

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