UBS Group Raises ODP (NASDAQ:ODP) Price Target to $28.00

ODP (NASDAQ:ODP) had its price target raised by analysts at UBS Group from $19.00 to $28.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s price objective indicates a potential upside of 0.54% from the company’s current price.

Several other analysts have also issued reports on ODP. Weiss Ratings reissued a “sell (d)” rating on shares of ODP in a research report on Wednesday, October 8th. Noble Financial lowered shares of ODP from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, September 23rd. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, ODP presently has an average rating of “Reduce” and an average price target of $28.00.

ODP Stock Up 0.0%

ODP stock opened at $27.85 on Thursday. The stock has a fifty day moving average of $25.79 and a 200-day moving average of $20.48. ODP has a fifty-two week low of $11.85 and a fifty-two week high of $28.83. The company has a market capitalization of $838.79 million, a price-to-earnings ratio of 42.20, a PEG ratio of 0.69 and a beta of 1.43. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.45 and a current ratio of 0.94.

ODP (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.32. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.67 billion. ODP had a return on equity of 11.22% and a net margin of 0.39%.The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.75 EPS. As a group, equities research analysts predict that ODP will post 3.26 earnings per share for the current year.

Institutional Investors Weigh In On ODP

Hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new position in shares of ODP in the third quarter worth about $31,000. AlphaQuest LLC bought a new position in ODP during the 1st quarter worth approximately $41,000. Headlands Technologies LLC purchased a new position in ODP in the 1st quarter worth approximately $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 worth $51,000 after purchasing an additional 2,730 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in ODP by 35.9% in the second quarter. Farther Finance Advisors LLC now owns 3,611 shares of the specialty retailer’s stock valued at $65,000 after purchasing an additional 954 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors.

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.