ODP (NASDAQ:ODP) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of ODP (NASDAQ:ODP - Free Report) from a hold rating to a buy rating in a research report released on Thursday morning.

ODP Price Performance

NASDAQ:ODP traded down $0.30 during trading hours on Thursday, reaching $13.63. The company had a trading volume of 660,284 shares, compared to its average volume of 617,461. The firm has a market capitalization of $406.42 million, a PE ratio of -14.98, a PEG ratio of 0.30 and a beta of 1.29. The stock has a 50-day moving average of $14.19 and a two-hundred day moving average of $20.98. ODP has a one year low of $11.85 and a one year high of $52.53. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP - Get Free Report) last announced its earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.14). The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. Analysts forecast that ODP will post 3.26 earnings per share for the current year.

Hedge Funds Weigh In On ODP

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its stake in shares of ODP by 6.8% in the fourth quarter. American Century Companies Inc. now owns 1,013,222 shares of the specialty retailer's stock valued at $23,041,000 after buying an additional 64,641 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of ODP by 0.5% in the fourth quarter. Neuberger Berman Group LLC now owns 911,604 shares of the specialty retailer's stock worth $20,697,000 after acquiring an additional 4,569 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of ODP by 28.2% during the first quarter. Allianz Asset Management GmbH now owns 821,669 shares of the specialty retailer's stock worth $11,775,000 after purchasing an additional 180,758 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of ODP by 105.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 788,084 shares of the specialty retailer's stock valued at $17,921,000 after purchasing an additional 404,041 shares during the last quarter. Finally, Atlas FRM LLC acquired a new stake in shares of ODP in the fourth quarter valued at approximately $17,856,000. Institutional investors 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.