UBS Group Issues Pessimistic Forecast for ODP (NASDAQ:ODP) Stock Price

by · The Cerbat Gem

ODP (NASDAQ:ODP – Free Report) had its price target cut by UBS Group from $30.00 to $28.00 in a report issued on Thursday,Benzinga reports. They currently have a neutral rating on the specialty retailer’s stock.

Separately, StockNews.com lowered ODP from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th.

View Our Latest Stock Analysis on ODP

ODP Trading Down 0.2 %

Shares of NASDAQ:ODP opened at $27.89 on Thursday. The company has a 50 day moving average price of $29.83 and a 200 day moving average price of $35.57. The stock has a market capitalization of $840.05 million, a price-to-earnings ratio of -30.71, a PEG ratio of 0.58 and a beta of 1.48. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.43 and a current ratio of 0.92. ODP has a 1-year low of $23.69 and a 1-year high of $58.98.

ODP (NASDAQ:ODP – Get Free Report) last released 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 business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 EPS. On average, research analysts anticipate that ODP will post 3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On ODP

A number of large investors have recently added to or reduced their stakes in ODP. ProShare Advisors LLC increased its position in ODP by 5.7% during the 1st quarter. ProShare Advisors LLC now owns 6,462 shares of the specialty retailer’s stock worth $343,000 after purchasing an additional 348 shares in the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of ODP by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 29,114 shares of the specialty retailer’s stock worth $1,544,000 after buying an additional 375 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in ODP by 2.1% in the third quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer’s stock valued at $569,000 after purchasing an additional 394 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in ODP by 2.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 15,830 shares of the specialty retailer’s stock worth $622,000 after buying an additional 399 shares during the period. Finally, CWM LLC grew its stake in 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 acquiring an additional 422 shares in the last quarter. Institutional investors own 99.56% of the company’s stock.

ODP Company Profile

(Get Free Report)

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.

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