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

ODP (NASDAQ:ODP) had its target price lowered by UBS Group from $30.00 to $28.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the specialty retailer’s stock.

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

ODP Price Performance

NASDAQ:ODP traded up $0.22 during mid-day trading on Thursday, hitting $27.95. 494,613 shares of the stock traded hands, compared to its average volume of 527,391. The business’s 50-day moving average price is $29.83 and its 200 day moving average price is $35.68. The company has a quick ratio of 0.43, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The company has a market cap of $938.56 million, a PE ratio of -30.71, a price-to-earnings-growth ratio of 0.57 and a beta of 1.48. ODP has a 12-month low of $23.69 and a 12-month high of $58.98.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.89). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.88 EPS. On average, analysts expect that ODP will post 3.45 EPS for the current fiscal year.

Institutional Trading of ODP

A number of hedge funds have recently made changes to their positions in the stock. DME Capital Management LP lifted its holdings in shares of ODP by 29.9% in the 2nd quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock worth $87,276,000 after acquiring an additional 511,890 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in ODP by 106.3% during the second quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer’s stock valued at $12,966,000 after buying an additional 170,149 shares during the period. American Century Companies Inc. grew its stake in shares of ODP by 19.6% during the second quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock valued at $32,707,000 after buying an additional 136,730 shares during the last quarter. Caxton Associates LP purchased a new position in shares of ODP in the second quarter worth about $2,788,000. Finally, Clearline Capital LP lifted its stake in shares of ODP by 108.7% in the 2nd quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock valued at $4,904,000 after acquiring an additional 65,033 shares during the last quarter. 99.56% of the stock is owned by 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.