ODP (NASDAQ:ODP) Upgraded by StockNews.com to “Buy” Rating

ODP (NASDAQ:ODP) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Separately, UBS Group dropped their price target on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday.

ODP Price Performance

Shares of ODP stock traded up $0.16 during trading hours on Thursday, hitting $27.73. The stock had a trading volume of 757,184 shares, compared to its average volume of 464,314. ODP has a one year low of $23.69 and a one year high of $58.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.90 and a quick ratio of 0.43. The stock’s 50-day moving average price is $29.93 and its two-hundred day moving average price is $36.01. The stock has a market capitalization of $931.17 million, a price-to-earnings ratio of -32.62, a PEG ratio of 0.52 and a beta of 1.48.

ODP (NASDAQ:ODP) last issued its earnings results 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). ODP had a positive return on equity of 15.93% and a negative net margin of 0.34%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.76 billion. During the same period last year, the firm posted $0.99 earnings per share. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. Equities analysts forecast that ODP will post 4.29 EPS for the current year.

Insider Buying and Selling

In other ODP news, Director Wendy Lee Schoppert bought 3,875 shares of the company’s stock in a transaction on Friday, August 9th. The stock was acquired at an average price of $25.77 per share, for a total transaction of $99,858.75. Following the completion of the transaction, the director now directly owns 3,875 shares of the company’s stock, valued at approximately $99,858.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ODP. CWM LLC boosted its position in shares of ODP by 81.3% during the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 422 shares during the period. Quarry LP boosted its position in shares of ODP by 170.3% during the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 688 shares during the period. KBC Group NV boosted its position in shares of ODP by 88.9% during the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after buying an additional 868 shares during the period. Innealta Capital LLC purchased a new position in shares of ODP during the second quarter valued at approximately $68,000. Finally, Gladius Capital Management LP raised its stake in shares of ODP by 227.8% during the second quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock valued at $86,000 after acquiring an additional 1,515 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

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.