StockNews.com Downgrades ODP (NASDAQ:ODP) to Hold

StockNews.com cut shares of ODP (NASDAQ:ODP) from a buy rating to a hold rating in a research report released on Thursday.

Separately, UBS Group dropped their target price on shares of ODP from $53.00 to $30.00 and set a neutral rating on the stock in a research note on Thursday.

ODP Price Performance

Shares of NASDAQ ODP opened at $25.52 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.94 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $916.04 million, a PE ratio of 12.33, a PEG ratio of 0.45 and a beta of 1.59. The stock’s 50 day moving average price is $38.83 and its 200-day moving average price is $45.84. ODP has a twelve month low of $23.69 and a twelve month high of $58.98.

ODP (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.64). The business had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.76 billion. ODP had a net margin of 1.08% and a return on equity of 16.67%. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 EPS. On average, equities analysts anticipate that ODP will post 6.4 EPS for the current year.

Hedge Funds Weigh In On ODP

Several large investors have recently modified their holdings of ODP. Vanguard Group Inc. boosted its holdings in ODP by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock worth $211,273,000 after buying an additional 16,584 shares during the period. Greenlight Capital Inc. boosted its stake in ODP by 8.3% in the 4th quarter. Greenlight Capital Inc. now owns 1,748,100 shares of the specialty retailer’s stock worth $98,418,000 after purchasing an additional 133,750 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in ODP by 15.7% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock valued at $67,989,000 after buying an additional 164,020 shares in the last quarter. American Century Companies Inc. boosted its holdings in ODP by 19.6% in the 2nd quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock valued at $32,707,000 after purchasing an additional 136,730 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in ODP by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,454 shares of the specialty retailer’s stock worth $21,814,000 after buying an additional 2,228 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

About ODP

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.