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

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

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

ODP Stock Performance

ODP stock traded down $0.09 during midday trading on Thursday, hitting $27.48. The company’s stock had a trading volume of 187,788 shares, compared to its average volume of 461,678. The stock’s 50-day moving average price is $29.93 and its 200 day moving average price is $36.01. 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 cap of $922.78 million, a price-to-earnings ratio of -32.32, a PEG ratio of 0.52 and a beta of 1.48. ODP has a 1 year low of $23.69 and a 1 year high of $58.98.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.64). ODP had a negative net margin of 0.34% and a positive return on equity of 15.93%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. On average, equities analysts forecast that ODP will post 4.29 EPS for the current year.

Insider Buying and Selling at ODP

In other news, Director Wendy Lee Schoppert bought 3,875 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were purchased 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 in the company, valued at approximately $99,858.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On ODP

Hedge funds have recently modified their holdings of the stock. DME Capital Management LP increased its position in ODP by 29.9% during the second quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock valued at $87,276,000 after acquiring an additional 511,890 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in ODP by 106.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer’s stock worth $12,966,000 after acquiring an additional 170,149 shares during the last quarter. American Century Companies Inc. raised its position in 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 acquiring an additional 136,730 shares in the last quarter. Caxton Associates LP acquired a new position in shares of ODP during the 2nd quarter worth about $2,788,000. Finally, Clearline Capital LP raised its stake in 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 purchasing an additional 65,033 shares during 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.