ODP (NASDAQ:ODP) Upgraded by StockNews.com to "Buy" Rating

StockNews.com upgraded shares of ODP (NASDAQ:ODP - Free Report) from a hold rating to a buy rating in a research report report published on Friday.

ODP Price Performance

ODP stock traded up $0.28 during mid-day trading on Friday, reaching $12.66. The company had a trading volume of 357,696 shares, compared to its average volume of 607,797. The stock's 50-day simple moving average is $15.15 and its 200-day simple moving average is $22.16. The company has a market capitalization of $377.50 million, a P/E ratio of -13.91, a P/E/G ratio of 0.30 and a beta of 1.45. 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 has a 1 year low of $11.85 and a 1 year high of $52.69.

ODP (NASDAQ:ODP - Get Free Report) last posted its earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.80 by ($0.14). The firm had revenue of $1.62 billion for the quarter, compared to analysts' expectations of $1.61 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. On average, equities analysts predict that ODP will post 3.26 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of ODP by 0.4% during the third quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer's stock valued at $24,219,000 after acquiring an additional 3,041 shares during the last quarter. GAMMA Investing LLC raised its position 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 last quarter. Barclays PLC lifted its stake in shares of ODP by 114.3% during the third quarter. Barclays PLC now owns 99,671 shares of the specialty retailer's stock valued at $2,965,000 after buying an additional 53,160 shares during the period. Russell Investments Group Ltd. grew its stake in ODP by 65.3% in the 4th quarter. Russell Investments Group Ltd. now owns 53,187 shares of the specialty retailer's stock worth $1,209,000 after acquiring an additional 21,011 shares during the period. Finally, Amundi raised its holdings in ODP by 175.9% in the 4th quarter. Amundi now owns 16,474 shares of the specialty retailer's stock valued at $368,000 after acquiring an additional 10,504 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

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.