Several other equities research analysts have also recently issued reports on ODP. Zacks Investment Research upgraded shares of The ODP from a hold rating to a strong-buy rating and set a $29.00 price objective for the company in a research report on Monday, November 16th. UBS Group raised their price objective on shares of The ODP from $18.00 to $21.00 and gave the stock a sell rating in a research report on Friday, November 6th. Finally, ValuEngine upgraded shares of The ODP from a sell rating to a hold rating in a research report on Tuesday, November 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, one has given a buy rating and two have given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $25.00.
Shares of NASDAQ ODP opened at $36.96 on Friday. The firm has a 50-day simple moving average of $28.86 and a 200-day simple moving average of $23.63. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -6.91, a price-to-earnings-growth ratio of 0.85 and a beta of 2.45. The company has a quick ratio of 0.65, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The ODP has a 52 week low of $13.60 and a 52 week high of $38.42.
The ODP (NASDAQ:ODP) last issued its earnings results on Thursday, November 5th. The specialty retailer reported $1.80 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.71. The ODP had a negative net margin of 2.84% and a positive return on equity of 11.61%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the business earned $0.15 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, equities research analysts expect that The ODP will post 4.55 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. increased its position in shares of The ODP by 70.8% during the second quarter. Jacobs Levy Equity Management Inc. now owns 4,649,138 shares of the specialty retailer’s stock valued at $10,925,000 after acquiring an additional 1,927,590 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of The ODP by 26.3% in the second quarter. Nuveen Asset Management LLC now owns 2,953,388 shares of the specialty retailer’s stock valued at $6,941,000 after purchasing an additional 615,216 shares during the period. State Street Corp purchased a new position in shares of The ODP in the third quarter valued at approximately $37,397,000. AQR Capital Management LLC boosted its stake in shares of The ODP by 64.4% in the second quarter. AQR Capital Management LLC now owns 1,639,647 shares of the specialty retailer’s stock valued at $3,853,000 after purchasing an additional 642,490 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of The ODP by 271.8% in the second quarter. Sei Investments Co. now owns 619,798 shares of the specialty retailer’s stock valued at $1,400,000 after purchasing an additional 453,094 shares during the period.
About The ODP
The ODP Corporation provides business services and supplies, products, and technology solutions for small, medium, and enterprise businesses. The company operates in three divisions: Business Solutions, Retail, and CompuCom. 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.
Featured Article: Net Asset Value
Receive News & Ratings for The ODP Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for The ODP and related companies with MarketBeat.com’s FREE daily email newsletter.