ODP (NASDAQ:ODP) Rating Increased to Strong-Buy at StockNews.com

StockNews.com upgraded shares of ODP (NASDAQ:ODPGet Rating) from a buy rating to a strong-buy rating in a research note published on Tuesday morning.

A number of other brokerages have also recently weighed in on ODP. Colliers Securities assumed coverage on shares of ODP in a research report on Friday, January 28th. They issued a buy rating and a $57.00 price target for the company. Zacks Investment Research raised shares of ODP from a hold rating to a buy rating and set a $53.00 price target for the company in a research report on Thursday, March 31st.

ODP stock opened at $41.25 on Tuesday. The stock has a market cap of $2.03 billion, a P/E ratio of -10.47 and a beta of 1.83. The company has a fifty day simple moving average of $44.92 and a 200-day simple moving average of $42.74. ODP has a 12-month low of $34.71 and a 12-month high of $51.40. The company has a current ratio of 1.04, a quick ratio of 0.60 and a debt-to-equity ratio of 0.12.

ODP (NASDAQ:ODPGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The specialty retailer reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.48. ODP had a negative net margin of 2.37% and a positive return on equity of 13.58%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company earned $1.21 EPS. The company’s revenue for the quarter was down 7.9% on a year-over-year basis.

In other news, EVP John Gannfors sold 4,418 shares of the stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $45.00, for a total transaction of $198,810.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ODP. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in ODP by 0.6% in the first quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 39,676 shares of the specialty retailer’s stock valued at $1,818,000 after buying an additional 235 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in ODP by 9.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the specialty retailer’s stock valued at $139,000 after buying an additional 270 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in ODP by 2.9% in the first quarter. Teacher Retirement System of Texas now owns 10,702 shares of the specialty retailer’s stock valued at $490,000 after buying an additional 306 shares in the last quarter. Deutsche Bank AG increased its holdings in ODP by 0.4% in the fourth quarter. Deutsche Bank AG now owns 77,281 shares of the specialty retailer’s stock valued at $3,035,000 after buying an additional 314 shares in the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in ODP by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 6,614 shares of the specialty retailer’s stock valued at $303,000 after buying an additional 343 shares in the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

About ODP (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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