ODP (NASDAQ:ODP) Shares Up 6.1% – Still a Buy?

The ODP Co. (NASDAQ:ODP) rose 6.1% on Monday . The company traded as high as $23.67 and last traded at $23.66. Approximately 92,586 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 370,803 shares. The stock had previously closed at $22.31.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ODP shares. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group reduced their price target on shares of ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th.

ODP Stock Up 6.0 %

The firm has a 50-day moving average of $25.49 and a two-hundred day moving average of $30.23. The firm has a market cap of $712.29 million, a price-to-earnings ratio of -25.99, a PEG ratio of 0.60 and a beta of 1.40. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.89). The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The business’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.88 EPS. As a group, sell-side analysts predict that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Institutional Trading of ODP

Large investors have recently bought and sold shares of the stock. Weiss Asset Management LP grew its holdings in shares of ODP by 2,219.3% during the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock worth $16,992,000 after purchasing an additional 546,525 shares during the last quarter. DME Capital Management LP grew its holdings in ODP by 29.9% during the 2nd quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock worth $87,276,000 after acquiring an additional 511,890 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in ODP by 106.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer’s stock valued at $12,966,000 after acquiring an additional 170,149 shares in the last quarter. American Century Companies Inc. raised its stake 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 worth $32,707,000 after acquiring an additional 136,730 shares during the last quarter. Finally, Mork Capital Management LLC lifted its position in shares of ODP by 150.0% during the third quarter. Mork Capital Management LLC now owns 125,000 shares of the specialty retailer’s stock worth $3,719,000 after purchasing an additional 75,000 shares in the last quarter. 99.56% of the stock is currently owned by 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.