ODP (NASDAQ:ODP) Lowered to "Hold" Rating by Wall Street Zen

ODP (NASDAQ:ODP - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

ODP Price Performance

Shares of ODP stock traded down $0.23 during mid-day trading on Friday, hitting $17.77. 428,368 shares of the stock were exchanged, compared to its average volume of 617,695. The company has a market cap of $534.56 million, a PE ratio of -19.53, a price-to-earnings-growth ratio of 0.30 and a beta of 1.32. ODP has a 52-week low of $11.85 and a 52-week high of $43.31. 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 fifty day moving average of $15.02 and a 200 day moving average of $19.15.

ODP (NASDAQ:ODP - Get Free Report) last announced its earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.41. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The company had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The firm's quarterly revenue was down 9.2% on a year-over-year basis. Research analysts anticipate that ODP will post 3.26 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. boosted its position in ODP by 1.5% during the first quarter. American Century Companies Inc. now owns 1,028,782 shares of the specialty retailer's stock worth $14,742,000 after acquiring an additional 15,560 shares during the last quarter. Neuberger Berman Group LLC raised its position in ODP by 2.1% in the first quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer's stock valued at $13,358,000 after purchasing an additional 19,552 shares during the period. Allianz Asset Management GmbH raised its holdings in shares of ODP by 28.2% during the 1st quarter. Allianz Asset Management GmbH now owns 821,669 shares of the specialty retailer's stock valued at $11,775,000 after buying an additional 180,758 shares during the period. D. E. Shaw & Co. Inc. lifted its position in shares of ODP by 105.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 788,084 shares of the specialty retailer's stock worth $17,921,000 after purchasing an additional 404,041 shares in the last quarter. Finally, Atlas FRM LLC acquired a new position in ODP in the 4th quarter worth $17,856,000. Institutional investors and hedge funds 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.

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