ODP (NASDAQ:ODP) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of ODP (NASDAQ:ODP) from a buy rating to a hold rating in a report issued on Sunday morning.

ODP Stock Performance

Shares of ODP stock opened at $17.36 on Friday. The firm has a 50 day moving average of $16.00 and a 200-day moving average of $18.37. The company has a market cap of $522.19 million, a price-to-earnings ratio of -12.49, a price-to-earnings-growth ratio of 0.40 and a beta of 1.32. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. ODP has a 52 week low of $11.85 and a 52 week high of $43.31.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.41. The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. ODP had a negative net margin of 0.69% and a positive return on equity of 11.50%. The business’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. On average, equities analysts forecast that ODP will post 3.26 earnings per share for the current year.

Institutional Trading of ODP

Several large investors have recently added to or reduced their stakes in the stock. Yousif Capital Management LLC boosted its holdings in shares of ODP by 7.8% during the 1st quarter. Yousif Capital Management LLC now owns 15,228 shares of the specialty retailer’s stock valued at $218,000 after buying an additional 1,101 shares in the last quarter. ProShare Advisors LLC grew its position in ODP by 34.9% during the fourth quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer’s stock valued at $223,000 after buying an additional 2,536 shares during the period. Millennium Management LLC grew its position in ODP by 107.7% during the fourth quarter. Millennium Management LLC now owns 90,234 shares of the specialty retailer’s stock valued at $2,052,000 after buying an additional 46,800 shares during the period. Two Sigma Advisers LP lifted its holdings in ODP by 81.8% during the fourth quarter. Two Sigma Advisers LP now owns 12,444 shares of the specialty retailer’s stock valued at $283,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in ODP by 65.3% during the fourth quarter. Russell Investments Group Ltd. now owns 53,187 shares of the specialty retailer’s stock valued at $1,209,000 after purchasing an additional 21,011 shares in the last quarter. 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.