ODP (NASDAQ:ODP) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of ODP (NASDAQ:ODP) from a hold rating to a buy rating in a research report report published on Saturday.

ODP Stock Performance

Shares of NASDAQ ODP opened at $17.29 on Friday. The stock has a market cap of $520.12 million, a PE ratio of -19.00, a price-to-earnings-growth ratio of 0.30 and a beta of 1.32. ODP has a 1 year low of $11.85 and a 1 year high of $43.31. The firm has a fifty day moving average price of $15.47 and a 200-day moving average price of $18.80. 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:ODP) last issued its earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share 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 during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. ODP’s quarterly revenue was down 9.2% compared to the same quarter last year. Equities analysts anticipate that ODP will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in ODP by 265,600.0% in the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 2,656 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of ODP in the first quarter worth about $41,000. Headlands Technologies LLC purchased a new stake in shares of ODP in the first quarter worth about $47,000. State of Wyoming boosted its stake in ODP by 232.5% during the first quarter. State of Wyoming now owns 5,859 shares of the specialty retailer’s stock valued at $84,000 after buying an additional 4,097 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in ODP by 38.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer’s stock valued at $98,000 after buying an additional 1,198 shares in the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

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.