ODP (NASDAQ:ODP) Stock Rating Lowered by Wall Street Zen

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

ODP Stock Performance

Shares of ODP stock traded up $0.12 on Friday, hitting $16.69. 708,892 shares of the stock were exchanged, compared to its average volume of 601,855. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $502.04 million, a PE ratio of -12.01, a P/E/G ratio of 0.39 and a beta of 1.32. ODP has a one year low of $11.85 and a one year high of $43.31. The firm's 50 day moving average is $15.81 and its two-hundred day moving average is $18.44.

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 for the quarter, beating the consensus estimate of $0.65 by $0.41. ODP had a positive return on equity of 11.50% and a negative net margin of 0.69%. The firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.67 billion. During the same quarter last year, the firm posted $1.05 EPS. The company's revenue was down 9.2% compared to the same quarter last year. Sell-side analysts expect that ODP will post 3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ODP

Several institutional investors have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake 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 worth $1,720,000 after acquiring an additional 13,210 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of ODP by 3.7% in the 1st quarter. Empowered Funds LLC now owns 202,111 shares of the specialty retailer's stock worth $2,896,000 after buying an additional 7,236 shares during the period. Mork Capital Management LLC lifted its stake 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 worth $2,150,000 after purchasing an additional 75,000 shares during the last quarter. Millennium Management LLC increased its holdings in ODP by 673.7% in the 1st quarter. Millennium Management LLC now owns 698,169 shares of the specialty retailer's stock worth $10,005,000 after buying an additional 607,935 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in shares of ODP during the 1st quarter worth approximately $8,248,000. 99.56% of the stock is owned by hedge funds and other institutional investors.

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.