ODP (NASDAQ:ODP) Downgraded to Hold Rating by StockNews.com

ODP (NASDAQ:ODP - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.

Separately, UBS Group cut their price target on ODP from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, November 7th.

ODP Price Performance

NASDAQ ODP traded up $0.45 during trading hours on Friday, reaching $14.87. The company's stock had a trading volume of 890,770 shares, compared to its average volume of 533,090. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The company's 50-day moving average is $21.49 and its two-hundred day moving average is $26.07. ODP has a fifty-two week low of $13.44 and a fifty-two week high of $53.85. The stock has a market cap of $443.38 million, a PE ratio of -16.34, a PEG ratio of 0.30 and a beta of 1.38.

ODP (NASDAQ:ODP - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.14). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The business had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. Analysts forecast that ODP will post 3.26 EPS for the current year.

Hedge Funds Weigh In On ODP

A number of institutional investors have recently modified their holdings of ODP. KBC Group NV grew its stake in ODP by 88.9% in the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer's stock worth $55,000 after acquiring an additional 868 shares during the period. GAMMA Investing LLC boosted its holdings in shares of ODP by 380.1% during the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer's stock worth $88,000 after purchasing an additional 3,071 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of ODP by 38.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer's stock valued at $98,000 after purchasing an additional 1,198 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in ODP in the fourth quarter valued at $143,000. Finally, KLP Kapitalforvaltning AS purchased a new position in ODP during the fourth quarter worth about $150,000. Institutional investors and hedge funds 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.