Weiss Ratings Reiterates "Sell (D)" Rating for ODP (NASDAQ:ODP)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D)" rating for ODP (NASDAQ:ODP), indicating bearish sentiment among analysts regarding the company's stock performance.
• ODP's recent quarterly earnings surpassed expectations, reporting earnings of $0.51 per share, which was higher than the consensus estimate of $0.33, despite a 7.6% decline in revenue from the previous year.
• Two research analysts currently rate ODP as "Hold" while one has given it a "Sell" rating, resulting in an average rating of "Reduce" and a price target of $19.00.

ODP (NASDAQ:ODP - Get Free Report)'s stock had its "sell (d)" rating restated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Other analysts have also issued reports about the company. Noble Financial lowered ODP from a "strong-buy" rating to a "market perform" rating in a report on Tuesday, September 23rd. UBS Group increased their price objective on ODP from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Wall Street Zen lowered ODP from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, ODP has an average rating of "Reduce" and a consensus price target of $19.00.

ODP Price Performance

Shares of NASDAQ:ODP opened at $27.76 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. ODP has a 1 year low of $11.85 and a 1 year high of $32.21. The business has a fifty day simple moving average of $22.26 and a 200 day simple moving average of $18.29. The firm has a market cap of $835.13 million, a price-to-earnings ratio of 42.06, a P/E/G ratio of 0.69 and a beta of 1.41.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. ODP had a return on equity of 11.22% and a net margin of 0.39%.The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $0.56 earnings per share. ODP's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that ODP will post 3.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ODP

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in shares of ODP by 169.0% in the first quarter. GAMMA Investing LLC now owns 10,436 shares of the specialty retailer's stock valued at $150,000 after purchasing an additional 6,557 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of ODP by 7.8% in the first quarter. Yousif Capital Management LLC now owns 15,228 shares of the specialty retailer's stock valued at $218,000 after purchasing an additional 1,101 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of ODP by 2.1% in the first quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer's stock valued at $13,358,000 after purchasing an additional 19,552 shares during the last quarter. New York State Teachers Retirement System grew its position in shares of ODP by 5.7% in 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 purchasing an additional 2,446 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of ODP in the first quarter valued at about $293,000. 99.56% of the stock is owned by institutional investors and hedge funds.

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.

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