ODP (NASDAQ:ODP) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of ODP (NASDAQ:ODPGet Rating) in a research note published on Thursday. The brokerage issued a strong-buy rating on the specialty retailer’s stock.

ODP Price Performance

Shares of NASDAQ:ODP opened at $44.71 on Thursday. The business has a 50-day moving average of $49.71 and a two-hundred day moving average of $44.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 0.58. ODP has a fifty-two week low of $28.85 and a fifty-two week high of $53.59. The stock has a market capitalization of $1.80 billion, a P/E ratio of 13.39 and a beta of 1.83.

ODP (NASDAQ:ODPGet Rating) last posted its quarterly earnings data on Wednesday, March 1st. The specialty retailer reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.06. The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.14 billion. ODP had a net margin of 1.96% and a return on equity of 14.92%. ODP’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. On average, equities research analysts predict that ODP will post 4.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kevin Moffitt sold 23,488 shares of the stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $50.74, for a total transaction of $1,191,781.12. Following the completion of the sale, the executive vice president now owns 50,459 shares in the company, valued at approximately $2,560,289.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Natixis bought a new stake in ODP in the 4th quarter valued at $1,491,000. Truist Financial Corp acquired a new position in shares of ODP during the fourth quarter valued at about $770,000. Linden Thomas Advisory Services LLC bought a new stake in shares of ODP in the fourth quarter valued at about $1,226,000. State of Tennessee Treasury Department grew its position in ODP by 9.6% during the fourth quarter. State of Tennessee Treasury Department now owns 25,239 shares of the specialty retailer’s stock worth $1,150,000 after buying an additional 2,204 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in ODP by 6.4% during the fourth quarter. Captrust Financial Advisors now owns 6,601 shares of the specialty retailer’s stock worth $301,000 after buying an additional 399 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

About ODP

(Get Rating)

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.

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