ODP (NASDAQ:ODP) Trading 6.1% Higher - Should You Buy?

Shares of The ODP Co. (NASDAQ:ODP - Get Free Report) were up 6.1% during mid-day trading on Monday . The stock traded as high as $23.67 and last traded at $23.66. Approximately 92,586 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 370,803 shares. The stock had previously closed at $22.31.

Analyst Upgrades and Downgrades

ODP has been the topic of a number of analyst reports. StockNews.com raised ODP from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. UBS Group reduced their target price on ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a report on Thursday, November 7th.

ODP Stock Performance

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 has a market cap of $713.50 million, a P/E ratio of -26.03, a P/E/G ratio of 0.60 and a beta of 1.40. The stock's fifty day moving average price is $25.34 and its two-hundred day moving average price is $30.12.

ODP (NASDAQ:ODP - Get Free Report) last released its 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 positive return on equity of 12.15% and a negative net margin of 0.52%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company earned $1.88 earnings per share. The firm's revenue for the quarter was down 11.3% on a year-over-year basis. As a group, equities analysts predict that The ODP Co. will post 3.26 earnings per share for the current year.

Hedge Funds Weigh In On ODP

A number of institutional investors and hedge funds have recently bought and sold shares of ODP. Rhumbline Advisers raised its stake in shares of ODP by 0.9% during the second quarter. Rhumbline Advisers now owns 109,855 shares of the specialty retailer's stock valued at $4,314,000 after acquiring an additional 1,000 shares during the last quarter. Victory Capital Management Inc. increased its holdings in ODP by 121.1% in the second quarter. Victory Capital Management Inc. now owns 51,501 shares of the specialty retailer's stock valued at $2,022,000 after purchasing an additional 28,210 shares during the period. Arizona State Retirement System lifted its holdings in ODP by 10.9% during the 2nd quarter. Arizona State Retirement System now owns 10,251 shares of the specialty retailer's stock worth $403,000 after buying an additional 1,006 shares during the period. Texas Permanent School Fund Corp grew its position in shares of ODP by 15.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 33,507 shares of the specialty retailer's stock valued at $1,316,000 after buying an additional 4,393 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of ODP by 19.6% in the second quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer's stock valued at $32,707,000 after buying an additional 136,730 shares during the period. 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.