LSV Asset Management Grows Position in The ODP Corporation $ODP

LSV Asset Management raised its stake in shares of The ODP Corporation (NASDAQ:ODP) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,423,757 shares of the specialty retailer’s stock after acquiring an additional 13,729 shares during the period. LSV Asset Management’s holdings in ODP were worth $25,813,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC purchased a new stake in shares of ODP in the first quarter valued at about $41,000. Headlands Technologies LLC bought a new stake in ODP in the 1st quarter worth about $47,000. Parallel Advisors LLC increased its stake in ODP by 3,033.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,820 shares of the specialty retailer’s stock valued at $51,000 after buying an additional 2,730 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of ODP by 35.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,611 shares of the specialty retailer’s stock worth $65,000 after buying an additional 954 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of ODP by 232.5% during the 1st quarter. State of Wyoming now owns 5,859 shares of the specialty retailer’s stock worth $84,000 after buying an additional 4,097 shares in the last quarter. Institutional investors own 99.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ODP. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ODP in a research report on Thursday, November 13th. Noble Financial downgraded ODP from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, September 23rd. Finally, UBS Group lifted their target price on ODP from $19.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $28.00.

ODP Price Performance

ODP stock opened at $27.86 on Wednesday. The business’s 50 day simple moving average is $26.75 and its 200 day simple moving average is $21.30. The ODP Corporation has a 12 month low of $11.85 and a 12 month high of $28.83. The company has a market cap of $839.09 million, a price-to-earnings ratio of 42.21, a PEG ratio of 0.69 and a beta of 1.43. 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 (NASDAQ:ODP) last released its earnings results on Wednesday, November 5th. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.32. ODP had a return on equity of 11.22% and a net margin of 0.39%.The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same period last year, the business posted $1.75 earnings per share. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. Sell-side analysts forecast that The ODP Corporation will post 3.26 EPS for the current year.

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.