ODP (NASDAQ:ODP) Downgraded to Hold Rating by StockNews.com

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

Separately, UBS Group reduced their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th.

ODP Stock Performance

Shares of ODP opened at $15.56 on Friday. The stock has a 50-day moving average of $21.68 and a two-hundred day moving average of $26.16. ODP has a one year low of $13.44 and a one year 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 stock has a market cap of $468.64 million, a P/E ratio of -17.10, a P/E/G ratio of 0.30 and a beta of 1.38.

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

Hedge Funds Weigh In On ODP

Several institutional investors and hedge funds have recently modified their holdings of ODP. Creative Planning purchased a new position in shares of ODP in the 3rd quarter valued at about $690,000. State of Alaska Department of Revenue increased its stake in shares of ODP by 2.1% in 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 purchasing an additional 394 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of ODP by 124.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 81,544 shares of the specialty retailer’s stock valued at $2,426,000 after purchasing an additional 45,155 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of ODP by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock valued at $4,713,000 after purchasing an additional 459 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of ODP by 23.4% in the 3rd quarter. Victory Capital Management Inc. now owns 63,562 shares of the specialty retailer’s stock valued at $1,891,000 after purchasing an additional 12,061 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

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.