Wall Street Zen Downgrades ODP (NASDAQ:ODP) to Hold

Wall Street Zen cut shares of ODP (NASDAQ:ODP - Free Report) from a buy rating to a hold rating in a report published on Friday.

ODP Stock Performance

ODP traded up $0.25 during trading on Friday, hitting $18.02. The stock had a trading volume of 483,337 shares, compared to its average volume of 617,994. The company has a 50 day moving average price of $15.08 and a 200-day moving average price of $18.98. The firm has a market cap of $542.08 million, a price-to-earnings ratio of -19.80, a P/E/G ratio of 0.30 and a beta of 1.32. ODP has a one year low of $11.85 and a one year high of $43.31. 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 (NASDAQ:ODP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.41. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.67 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm's quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. As a group, research analysts predict that ODP will post 3.26 EPS for the current year.

Institutional Trading of ODP

A number of institutional investors have recently bought and sold shares of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in ODP by 12.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 120,014 shares of the specialty retailer's stock valued at $1,720,000 after purchasing an additional 13,210 shares during the period. Empowered Funds LLC lifted its position in shares of ODP by 3.7% during the 1st quarter. Empowered Funds LLC now owns 202,111 shares of the specialty retailer's stock valued at $2,896,000 after acquiring an additional 7,236 shares during the period. Mork Capital Management LLC lifted its position in shares of ODP by 100.0% during the 1st quarter. Mork Capital Management LLC now owns 150,000 shares of the specialty retailer's stock valued at $2,150,000 after acquiring an additional 75,000 shares during the period. Millennium Management LLC lifted its position in shares of ODP by 673.7% during the 1st quarter. Millennium Management LLC now owns 698,169 shares of the specialty retailer's stock valued at $10,005,000 after acquiring an additional 607,935 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of ODP during the 1st quarter valued at $8,248,000. 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.