ODP (NASDAQ:ODP) Upgraded at StockNews.com

StockNews.com upgraded shares of ODP (NASDAQ:ODP) from a hold rating to a buy rating in a report issued on Friday.

ODP Price Performance

ODP stock opened at $13.71 on Friday. The company’s 50-day moving average price is $15.45 and its two-hundred day moving average price is $22.35. ODP has a 12 month low of $11.85 and a 12 month high of $52.69. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The firm has a market cap of $408.80 million, a P/E ratio of -15.07, a P/E/G ratio of 0.30 and a beta of 1.45.

ODP (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, February 26th. The specialty retailer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.14). The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. On average, analysts anticipate that ODP will post 3.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ODP

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of ODP by 5.0% during the third quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock worth $45,896,000 after buying an additional 74,015 shares during the last quarter. Barclays PLC increased its holdings in ODP by 114.3% in the 3rd quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock worth $2,965,000 after purchasing an additional 53,160 shares in the last quarter. Geode Capital Management LLC raised its position in ODP by 0.4% in the third quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after purchasing an additional 3,041 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of ODP by 0.3% during the third 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, GAMMA Investing LLC increased its stake in shares of ODP by 380.1% in the fourth 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 period. 99.56% of the stock is currently owned by institutional investors and hedge funds.

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.