ODP (NASDAQ:ODP) Trading Up 5.1% – Still a Buy?

The ODP Co. (NASDAQ:ODP) shares rose 5.1% on Monday . The stock traded as high as $17.44 and last traded at $17.45. Approximately 151,819 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 532,428 shares. The stock had previously closed at $16.61.

Analyst Ratings Changes

Separately, StockNews.com lowered ODP from a “buy” rating to a “hold” rating in a report on Friday, February 28th.

ODP Stock Up 7.2 %

The company’s 50-day moving average is $20.84 and its 200 day moving average is $25.69. The stock has a market capitalization of $531.04 million, a PE ratio of -19.57, a price-to-earnings-growth ratio of 0.30 and a beta of 1.55. 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 announced its quarterly earnings data on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.14). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. As a group, analysts anticipate that The ODP Co. will post 3.26 EPS for the current year.

Institutional Investors Weigh In On ODP

Several hedge funds have recently bought and sold shares of ODP. State Street Corp boosted its stake in shares of ODP by 5.0% during the 3rd quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock worth $45,896,000 after acquiring an additional 74,015 shares in the last quarter. American Century Companies Inc. boosted its position in ODP by 6.8% during the fourth quarter. American Century Companies Inc. now owns 1,013,222 shares of the specialty retailer’s stock worth $23,041,000 after purchasing an additional 64,641 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in ODP by 0.5% in the fourth quarter. Neuberger Berman Group LLC now owns 911,604 shares of the specialty retailer’s stock valued at $20,697,000 after purchasing an additional 4,569 shares during the period. Geode Capital Management LLC grew its holdings in ODP by 0.4% in the third quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after purchasing an additional 3,041 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its position in shares of ODP by 105.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 788,084 shares of the specialty retailer’s stock valued at $17,921,000 after buying an additional 404,041 shares in the last quarter. Hedge funds and other institutional investors own 99.56% of the company’s stock.

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.