ODP (NASDAQ:ODP) Trading Up 5.1% - Still a Buy?

The ODP Co. (NASDAQ:ODP - Get Free Report) rose 5.1% during mid-day trading on Tuesday . The stock traded as high as $22.91 and last traded at $22.85. Approximately 53,813 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 479,009 shares. The stock had previously closed at $21.75.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ODP shares. UBS Group dropped their target price on ODP from $30.00 to $28.00 and set a "neutral" rating for the company in a research report on Thursday, November 7th. StockNews.com upgraded ODP from a "hold" rating to a "buy" rating in a report on Thursday, November 7th.

ODP Stock Up 4.6 %

The company has a market cap of $684.88 million, a P/E ratio of -24.99, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. 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 business's fifty day moving average is $27.06 and its two-hundred day moving average is $31.29.

ODP (NASDAQ:ODP - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.89). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $1.88 EPS. The business's revenue was down 11.3% on a year-over-year basis. Equities analysts predict that The ODP Co. will post 3.26 EPS for the current year.

Institutional Investors Weigh In On ODP

Several hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted its stake in shares of ODP by 31.1% during the 3rd quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer's stock worth $5,717,000 after purchasing an additional 45,627 shares during the last quarter. Clearline Capital LP raised its holdings in ODP by 108.7% in the second quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer's stock worth $4,904,000 after purchasing an additional 65,033 shares in the last quarter. Geode Capital Management LLC lifted its position 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 buying an additional 3,041 shares during the last quarter. Weiss Asset Management LP boosted its holdings in shares of ODP by 2,219.3% in the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer's stock valued at $16,992,000 after buying an additional 546,525 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of ODP by 1.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer's stock worth $2,458,000 after buying an additional 790 shares during the last quarter. Hedge funds and other institutional investors own 99.56% of the company's stock.

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.