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

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

Wall Street Analyst Weigh In

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

ODP Price Performance

The stock’s 50-day moving average is $20.64 and its two-hundred day moving average is $25.52. The company has a market capitalization of $488.76 million, a PE ratio of -18.15, 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 released its earnings results on Wednesday, February 26th. The specialty retailer reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.14). The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. On average, equities analysts predict that The ODP Co. will post 3.26 EPS for the current year.

Institutional Trading of ODP

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