ODP (NASDAQ:ODP) Upgraded by Wall Street Zen to "Buy" Rating

Wall Street Zen upgraded shares of ODP (NASDAQ:ODP - Free Report) from a hold rating to a buy rating in a report released on Saturday.

ODP Trading Down 5.3%

NASDAQ ODP traded down $0.92 on Friday, hitting $16.49. The company's stock had a trading volume of 534,677 shares, compared to its average volume of 617,015. The firm has a market cap of $496.02 million, a PE ratio of -11.86, a PEG ratio of 0.41 and a beta of 1.32. The company's 50-day moving average is $15.63 and its 200 day moving average is $18.68. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.32. ODP has a 1-year low of $11.85 and a 1-year high of $43.31.

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 positive return on equity of 11.50% and a negative net margin of 0.69%. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.67 billion. During the same period last year, the company earned $1.05 EPS. ODP's revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, analysts predict that ODP will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in ODP by 12.4% in the first 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 buying an additional 13,210 shares during the period. Empowered Funds LLC boosted 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 purchasing an additional 7,236 shares in the last quarter. Mork Capital Management LLC lifted its stake in ODP by 100.0% in the first quarter. Mork Capital Management LLC now owns 150,000 shares of the specialty retailer's stock valued at $2,150,000 after buying an additional 75,000 shares during the period. Millennium Management LLC grew 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 worth $10,005,000 after buying an additional 607,935 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of ODP during the 1st quarter valued at $8,248,000. 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.