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

ODP (NASDAQ:ODP) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Friday.

ODP Stock Up 11.8 %

Shares of NASDAQ:ODP opened at $15.42 on Friday. ODP has a twelve month low of $11.85 and a twelve month high of $43.94. The company has a market capitalization of $459.79 million, a PE ratio of -16.95, a P/E/G ratio of 0.30 and a beta of 1.29. 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 50 day simple moving average of $14.17 and a 200-day simple moving average of $20.83.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 EPS for the quarter, topping the consensus estimate of $0.65 by $0.41. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the previous year, the firm earned $1.05 EPS. The business’s revenue was down 9.2% on a year-over-year basis. On average, equities analysts predict that ODP will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ODP. Russell Investments Group Ltd. boosted its position in ODP by 65.3% during the fourth quarter. Russell Investments Group Ltd. now owns 53,187 shares of the specialty retailer’s stock worth $1,209,000 after purchasing an additional 21,011 shares during the period. GAMMA Investing LLC grew its stake in ODP by 380.1% in the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after buying an additional 3,071 shares during the last quarter. Barclays PLC lifted its position in ODP by 114.3% during the 3rd quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock worth $2,965,000 after acquiring an additional 53,160 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in ODP by 16.2% during the fourth quarter. Wells Fargo & Company MN now owns 19,539 shares of the specialty retailer’s stock valued at $444,000 after acquiring an additional 2,717 shares during the period. Finally, Amundi increased its stake in shares of ODP by 175.9% in the fourth quarter. Amundi now owns 16,474 shares of the specialty retailer’s stock worth $368,000 after purchasing an additional 10,504 shares during the period. Institutional investors and hedge funds 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.