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

The ODP Co. (NASDAQ:ODP) shares were up 5.1% during trading on Monday . The stock traded as high as $17.44 and last traded at $17.45. Approximately 151,819 shares were traded during 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 downgraded ODP from a “buy” rating to a “hold” rating in a research note on Friday, February 28th.

ODP Stock Performance

The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The company has a market cap of $488.76 million, a PE ratio of -18.15, a P/E/G ratio of 0.30 and a beta of 1.55. The firm’s 50-day simple moving average is $20.64 and its two-hundred day simple moving average is $25.52.

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 company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. As a group, research analysts anticipate that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Institutional Trading of ODP

Several large investors have recently made changes to their positions in ODP. Jane Street Group LLC raised its position in ODP by 31.1% during the third quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer’s stock worth $5,717,000 after acquiring an additional 45,627 shares during the period. Geode Capital Management LLC grew its position in shares of 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 in the last quarter. Weiss Asset Management LP increased its holdings in shares of ODP by 2,219.3% in the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock valued at $16,992,000 after purchasing an additional 546,525 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in ODP by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer’s stock worth $2,458,000 after buying an additional 790 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in ODP by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock valued at $14,323,000 after buying an additional 58,062 shares in the last quarter. 99.56% of the stock is owned by hedge funds and other 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.