ODP (NASDAQ:ODP) Price Target Raised to $19.00

Key Points

• UBS Group has raised ODP's price target from $17.00 to $19.00, while maintaining a "neutral" rating, indicating a potential downside of 1.83% from the stock's previous closing price.
• Wall Street Zen has downgraded ODP from a "buy" rating to a "hold" rating, reflecting a more cautious outlook on the stock.
• ODP reported $0.51 EPS for the last quarter, surpassing analyst expectations, but saw a 7.6% drop in revenue year-over-year.

ODP (NASDAQ:ODP - Get Free Report) had its price objective lifted by research analysts at UBS Group from $17.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the specialty retailer's stock. UBS Group's target price points to a potential downside of 1.83% from the stock's previous close.

Separately, Wall Street Zen lowered ODP from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd.

ODP Price Performance

Shares of NASDAQ ODP traded up $0.14 during midday trading on Thursday, hitting $19.35. The stock had a trading volume of 168,676 shares, compared to its average volume of 613,220. ODP has a 1 year low of $11.85 and a 1 year high of $32.21. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $582.17 million, a PE ratio of -13.92, a P/E/G ratio of 0.41 and a beta of 1.38. The stock has a 50 day simple moving average of $17.95 and a 200-day simple moving average of $17.11.

ODP (NASDAQ:ODP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.18. ODP had a positive return on equity of 11.50% and a negative net margin of 0.69%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the business earned $0.56 earnings per share. The company's revenue for the quarter was down 7.6% on a year-over-year basis. On average, sell-side analysts expect that ODP will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ODP. GAMMA Investing LLC boosted its holdings in ODP by 169.0% during the first quarter. GAMMA Investing LLC now owns 10,436 shares of the specialty retailer's stock valued at $150,000 after acquiring an additional 6,557 shares during the period. Yousif Capital Management LLC boosted its holdings in ODP by 7.8% during the first quarter. Yousif Capital Management LLC now owns 15,228 shares of the specialty retailer's stock valued at $218,000 after acquiring an additional 1,101 shares during the period. New York State Teachers Retirement System boosted its holdings in ODP by 5.7% during the first quarter. New York State Teachers Retirement System now owns 45,112 shares of the specialty retailer's stock valued at $646,000 after acquiring an additional 2,446 shares during the period. ProShare Advisors LLC boosted its holdings in ODP by 34.9% during the fourth quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer's stock valued at $223,000 after acquiring an additional 2,536 shares during the period. Finally, Millennium Management LLC boosted its holdings in ODP by 107.7% during the fourth quarter. Millennium Management LLC now owns 90,234 shares of the specialty retailer's stock valued at $2,052,000 after acquiring an additional 46,800 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.