ODP (NASDAQ:ODP) Upgraded to Buy at StockNews.com

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

ODP Trading Up 1.6 %

NASDAQ:ODP opened at $13.90 on Thursday. ODP has a one year low of $11.85 and a one year high of $52.60. The business’s 50-day simple moving average is $14.34 and its 200 day simple moving average is $21.40. 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 cap of $414.47 million, a price-to-earnings ratio of -15.27, a price-to-earnings-growth ratio of 0.30 and a beta of 1.45.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. 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

Several large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in 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 buying an additional 2,656 shares during the last quarter. GAMMA Investing LLC lifted its stake in ODP by 380.1% during the fourth 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 last quarter. Tower Research Capital LLC TRC boosted its holdings in ODP by 38.3% in the fourth 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. Point72 Asia Singapore Pte. Ltd. bought a new stake in ODP during the fourth quarter valued at $143,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of ODP during the fourth quarter worth $150,000. Institutional investors own 99.56% of the company’s stock.

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.