ODP (NASDAQ:ODP) Upgraded at StockNews.com

StockNews.com upgraded shares of ODP (NASDAQ:ODP) from a hold rating to a buy rating in a report released on Friday.

ODP Stock Performance

Shares of ODP opened at $17.18 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The stock has a market capitalization of $516.81 million, a P/E ratio of -18.88, a P/E/G ratio of 0.30 and a beta of 1.29. The company’s fifty day moving average is $14.22 and its two-hundred day moving average is $20.59. ODP has a 1 year low of $11.85 and a 1 year high of $43.31.

ODP (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, May 7th. The specialty retailer reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.41. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.67 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. ODP’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.05 EPS. On average, sell-side analysts predict 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 company. Farther Finance Advisors LLC grew its stake in shares of ODP by 265,600.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer’s stock worth $37,000 after purchasing an additional 2,656 shares during the period. Headlands Technologies LLC acquired a new position in shares of ODP during the 1st quarter worth $47,000. GAMMA Investing LLC grew its stake in shares of ODP by 380.1% during the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock worth $88,000 after purchasing an additional 3,071 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of ODP by 38.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer’s stock worth $98,000 after purchasing an additional 1,198 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of ODP during the 4th quarter worth $143,000. 99.56% of the stock is owned by institutional investors and hedge funds.

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.