StockNews.com Downgrades ODP (NASDAQ:ODP) to Buy

ODP (NASDAQ:ODPGet Rating) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

ODP opened at $29.98 on Wednesday. The stock’s 50-day moving average price is $40.27 and its 200 day moving average price is $41.98. ODP has a 12-month low of $28.85 and a 12-month high of $50.29. The company has a current ratio of 1.04, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -7.61 and a beta of 1.84.

ODP (NASDAQ:ODPGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The specialty retailer reported $1.27 earnings per share for the quarter. ODP had a positive return on equity of 13.58% and a negative net margin of 2.37%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the business earned $1.21 EPS. ODP’s revenue was down 7.9% on a year-over-year basis.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gotham Asset Management LLC purchased a new position in ODP during the 4th quarter worth approximately $609,000. Credit Suisse AG lifted its position in ODP by 1,349.0% during the 4th quarter. Credit Suisse AG now owns 701,554 shares of the specialty retailer’s stock worth $27,558,000 after acquiring an additional 653,137 shares during the period. Mirabella Financial Services LLP acquired a new stake in ODP during the 4th quarter worth approximately $3,769,000. California State Teachers Retirement System lifted its position in ODP by 4.2% during the 3rd quarter. California State Teachers Retirement System now owns 71,933 shares of the specialty retailer’s stock worth $2,889,000 after acquiring an additional 2,928 shares during the period. Finally, Gladius Capital Management LP acquired a new stake in ODP during the 4th quarter worth approximately $106,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

ODP Company Profile (Get Rating)

The ODP Corporation provides business services and supplies, products, and digital workplace technology solutions for small, medium, and enterprise businesses. The company operates in two divisions, Business Solutions and Retail. The Business Solutions division offers office supply products and services, cleaning and breakroom supplies, technology services, copy and print services, and office furniture products and services through sales forces, catalogs, and telesales, as well as through Internet Websites in the United States, Puerto Rico, the U.S.

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