ODP (NASDAQ:ODP) Downgraded to “Hold” at StockNews.com

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

Separately, UBS Group reduced their price target on shares of ODP from $53.00 to $30.00 and set a neutral rating for the company in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, ODP has an average rating of Moderate Buy and an average price target of $53.33.

ODP Stock Down 2.4 %

Shares of ODP stock traded down $0.64 during trading on Thursday, hitting $25.52. 686,623 shares of the stock were exchanged, compared to its average volume of 421,576. The stock has a market cap of $916.04 million, a price-to-earnings ratio of 12.33, a price-to-earnings-growth ratio of 0.45 and a beta of 1.59. The firm’s 50-day moving average price is $39.10 and its 200 day moving average price is $46.11. ODP has a 12-month low of $23.69 and a 12-month high of $58.98. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.49.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.64). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ODP had a return on equity of 16.67% and a net margin of 1.08%. ODP’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period last year, the firm posted $0.99 earnings per share. As a group, analysts forecast that ODP will post 6.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ODP

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of ODP by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock valued at $211,273,000 after buying an additional 16,584 shares during the last quarter. Greenlight Capital Inc. raised its holdings in shares of ODP by 8.3% in the fourth quarter. Greenlight Capital Inc. now owns 1,748,100 shares of the specialty retailer’s stock valued at $98,418,000 after buying an additional 133,750 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of ODP by 15.7% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock valued at $67,989,000 after buying an additional 164,020 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of ODP by 19.6% in the second quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock valued at $32,707,000 after buying an additional 136,730 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of ODP by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 387,454 shares of the specialty retailer’s stock valued at $21,814,000 after buying an additional 2,228 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other institutional investors.

About ODP

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.