ODP (NASDAQ:ODP) Stock Rating Upgraded by StockNews.com

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

Shares of NASDAQ ODP opened at $30.35 on Thursday. ODP has a fifty-two week low of $28.85 and a fifty-two week high of $49.28. The firm’s 50-day simple moving average is $38.45 and its 200 day simple moving average is $41.72. The company has a quick ratio of 0.60, a current ratio of 1.04 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.49 billion, a P/E ratio of -7.70 and a beta of 1.87.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Mascoma Wealth Management LLC purchased a new position in ODP in the 1st quarter worth about $74,000. Gladius Capital Management LP acquired a new stake in ODP during the 4th quarter worth about $106,000. SkyView Investment Advisors LLC acquired a new stake in ODP during the 4th quarter worth about $364,000. PNC Financial Services Group Inc. boosted its position in ODP by 9.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,052 shares of the specialty retailer’s stock worth $139,000 after acquiring an additional 270 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new stake in ODP during the 1st quarter worth about $203,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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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