ODP (NASDAQ:ODP) Upgraded at Wall Street Zen

ODP (NASDAQ:ODP - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

ODP Trading Down 4.5%

NASDAQ:ODP opened at $17.29 on Friday. The firm has a market cap of $520.12 million, a PE ratio of -19.00, a price-to-earnings-growth ratio of 0.30 and a beta of 1.32. The stock has a fifty day moving average price of $15.47 and a 200 day moving average price of $18.85. ODP has a 12-month low of $11.85 and a 12-month high of $43.31. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP - Get Free Report) last released its earnings results on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.41. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. ODP's revenue was down 9.2% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. Sell-side analysts anticipate that ODP will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. ProShare Advisors LLC raised its stake in ODP by 34.9% in the fourth quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer's stock valued at $223,000 after buying an additional 2,536 shares in the last quarter. Millennium Management LLC raised its stake in ODP by 107.7% in the fourth quarter. Millennium Management LLC now owns 90,234 shares of the specialty retailer's stock valued at $2,052,000 after buying an additional 46,800 shares in the last quarter. Two Sigma Advisers LP raised its stake in ODP by 81.8% in the fourth quarter. Two Sigma Advisers LP now owns 12,444 shares of the specialty retailer's stock valued at $283,000 after buying an additional 5,600 shares in the last quarter. Russell Investments Group Ltd. raised its stake in ODP by 65.3% in the fourth quarter. Russell Investments Group Ltd. now owns 53,187 shares of the specialty retailer's stock valued at $1,209,000 after buying an additional 21,011 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in ODP by 16.2% in the fourth quarter. Wells Fargo & Company MN now owns 19,539 shares of the specialty retailer's stock valued at $444,000 after buying an additional 2,717 shares in the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

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.

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