ODP (NASDAQ:ODP) Price Target Lowered to $28.00 at UBS Group

ODP (NASDAQ:ODP) had its price target reduced by equities research analysts at UBS Group from $30.00 to $28.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the specialty retailer’s stock. UBS Group’s target price would suggest a potential upside of 1.89% from the company’s previous close.

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

ODP Price Performance

Shares of ODP traded down $0.09 during trading hours on Thursday, reaching $27.48. 187,788 shares of the company traded hands, compared to its average volume of 461,678. The company has a quick ratio of 0.43, a current ratio of 0.90 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $922.78 million, a PE ratio of -32.32, a price-to-earnings-growth ratio of 0.52 and a beta of 1.48. The stock has a fifty day simple moving average of $29.93 and a 200 day simple moving average of $36.01. ODP has a fifty-two week low of $23.69 and a fifty-two week high of $58.98.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.64). ODP had a positive return on equity of 15.93% and a negative net margin of 0.34%. The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.76 billion. The business’s quarterly revenue was down 10.0% on a year-over-year basis. During the same period last year, the firm earned $0.99 EPS. As a group, research analysts predict that ODP will post 4.29 EPS for the current fiscal year.

Insider Buying and Selling at ODP

In other news, Director Wendy Lee Schoppert bought 3,875 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was bought at an average price of $25.77 per share, for a total transaction of $99,858.75. Following the completion of the purchase, the director now owns 3,875 shares of the company’s stock, valued at approximately $99,858.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.60% of the company’s stock.

Institutional Trading of ODP

A number of hedge funds have recently modified their holdings of ODP. ProShare Advisors LLC grew its stake in shares of ODP by 5.7% in the first quarter. ProShare Advisors LLC now owns 6,462 shares of the specialty retailer’s stock valued at $343,000 after acquiring an additional 348 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in shares of ODP by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 29,114 shares of the specialty retailer’s stock valued at $1,544,000 after acquiring an additional 375 shares during the last quarter. State of Alaska Department of Revenue raised its position in ODP by 2.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer’s stock worth $569,000 after purchasing an additional 394 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of ODP by 2.6% during the second quarter. SummerHaven Investment Management LLC now owns 15,830 shares of the specialty retailer’s stock worth $622,000 after acquiring an additional 399 shares during the last quarter. Finally, CWM LLC lifted its holdings in ODP by 81.3% in the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock valued at $37,000 after buying an additional 422 shares during the period. 99.56% of the stock is currently owned by institutional investors and hedge funds.

ODP Company Profile

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.