The ODP (NASDAQ:ODP) Shares Gap Down to $41.80

The ODP Co. (NASDAQ:ODP)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $41.80, but opened at $40.91. The ODP shares last traded at $41.65, with a volume of 448 shares changing hands.

A number of research analysts recently issued reports on ODP shares. TheStreet upgraded shares of The ODP from a “d+” rating to a “c-” rating in a research note on Friday, January 15th. UBS Group upgraded shares of The ODP from a “sell” rating to a “neutral” rating and raised their price target for the stock from $23.00 to $43.00 in a research report on Thursday, February 25th. Zacks Investment Research lowered shares of The ODP from a “hold” rating to a “strong sell” rating and set a $47.00 price target on the stock. in a research report on Monday, February 22nd. Finally, JPMorgan Chase & Co. upgraded shares of The ODP from an “underweight” rating to a “neutral” rating and set a $40.00 price target on the stock in a research report on Tuesday, January 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $43.33.

The stock has a market capitalization of $2.25 billion, a P/E ratio of -7.81, a P/E/G ratio of 1.15 and a beta of 2.42. The firm’s fifty day moving average is $40.47 and its 200-day moving average is $32.89. The company has a current ratio of 1.08, a quick ratio of 0.65 and a debt-to-equity ratio of 0.20.

The ODP (NASDAQ:ODP) last announced its quarterly earnings results on Tuesday, February 23rd. The specialty retailer reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.28). The ODP had a negative net margin of 2.84% and a positive return on equity of 11.61%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the business earned $1.20 earnings per share. Equities research analysts expect that The ODP Co. will post 4.55 EPS for the current year.

In related news, EVP N. David Bleisch sold 28,113 shares of The ODP stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $40.88, for a total transaction of $1,149,259.44. Following the completion of the transaction, the executive vice president now directly owns 98,928 shares of the company’s stock, valued at approximately $4,044,176.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Vantage Consulting Group Inc acquired a new stake in shares of The ODP during the 4th quarter worth approximately $29,000. Veriti Management LLC acquired a new stake in shares of The ODP during the 4th quarter worth approximately $57,000. Edge Wealth Management LLC acquired a new stake in shares of The ODP during the 4th quarter worth approximately $58,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of The ODP by 93.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 4,541 shares of the specialty retailer’s stock worth $133,000 after buying an additional 2,192 shares during the period. Finally, Prelude Capital Management LLC acquired a new stake in shares of The ODP during the 4th quarter worth approximately $200,000. Hedge funds and other institutional investors own 90.62% of the company’s stock.

The ODP Company Profile (NASDAQ:ODP)

The ODP Corporation provides business services and supplies, products, and technology solutions for small, medium, and enterprise businesses. The company operates in three divisions: Business Solutions, Retail, and CompuCom. 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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