StockNews.com initiated coverage on shares of ODP (NASDAQ:ODP – Get Rating) in a research note released on Thursday. The brokerage issued a strong-buy rating on the specialty retailer’s stock.
ODP Trading Down 2.8 %
ODP stock opened at $44.71 on Thursday. The company has a quick ratio of 0.58, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 13.39 and a beta of 1.83. The business has a fifty day simple moving average of $49.71 and a 200-day simple moving average of $44.25. ODP has a 52 week low of $28.85 and a 52 week high of $53.59.
ODP (NASDAQ:ODP – Get Rating) last issued its earnings results on Wednesday, March 1st. The specialty retailer reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.06. The business had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.14 billion. ODP had a return on equity of 14.92% and a net margin of 1.96%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. On average, equities research analysts expect that ODP will post 4.8 EPS for the current year.
Insider Activity at ODP
Institutional Trading of ODP
A number of hedge funds have recently made changes to their positions in ODP. JPMorgan Chase & Co. lifted its stake in shares of ODP by 0.4% in the second quarter. JPMorgan Chase & Co. now owns 358,809 shares of the specialty retailer’s stock worth $10,850,000 after acquiring an additional 1,280 shares in the last quarter. Prudential Financial Inc. increased its holdings in ODP by 87.3% during the 3rd quarter. Prudential Financial Inc. now owns 288,534 shares of the specialty retailer’s stock worth $10,141,000 after purchasing an additional 134,519 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of ODP in the 3rd quarter valued at approximately $454,000. Cubist Systematic Strategies LLC boosted its stake in shares of ODP by 114.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 81,404 shares of the specialty retailer’s stock valued at $2,861,000 after buying an additional 43,414 shares during the last quarter. Finally, WINTON GROUP Ltd grew its position in shares of ODP by 53.4% during the third quarter. WINTON GROUP Ltd now owns 14,494 shares of the specialty retailer’s stock worth $509,000 after buying an additional 5,048 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.
The ODP Corp. is a holding company, which engages in the provision of business services and supplies, products, and digital workplace technology solutions. It operates through the following divisions: ODP Business Solutions, Office Depot, Veyer, and Varis. The ODP Business Solutions division provides solutions to small, medium and enterprise level companies, including those in the public and education sectors.
- Get a free copy of the StockNews.com research report on ODP (ODP)
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