ODP (NASDAQ:ODP – Get Rating) released its results on Wednesday. The specialty retailer reported EPS of $1.27 for the quarter, beating the consensus estimate of $0.79 by $0.48, MarketWatch Earnings reports. ODP recorded a positive return on equity of 12.91% and a negative net margin of 2.34%. The company posted revenue of $2.18 billion for the quarter, versus a consensus estimate of $2.13 billion. In the same period a year earlier, the company posted earnings per share of $1.21. The company’s revenue for the quarter decreased 7.9% compared to the same quarter last year.
ODP stock opened at $45.17 on Friday. The stock has a market capitalization of $2.19 billion, a PE ratio of -11.46 and a beta of 1.83. The company has a debt ratio of 0.16, a quick ratio of 0.68 and a current ratio of 1.05. ODP has a one-year low of $34.71 and a one-year high of $51.40. The stock has a fifty-day moving average of $45.06 and a 200-day moving average of $42.84.
In related news, Executive Vice President John Gannfors sold 11,899 shares of the company in a trade on Tuesday, March 22. The stock was sold at an average price of $46.42, for a total transaction of $552,351.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. 3.00% of the shares are currently held by insiders.
A number of institutional investors have been buying and selling stocks recently. Janus Henderson Group PLC purchased a new stake in ODP during the third quarter worth approximately $217,000. Royal Bank of Canada increased its holdings in ODP by 48.8% during the third quarter. Royal Bank of Canada now owns 6,582 shares of the specialty retailer valued at $263,000 after purchasing an additional 2,158 shares during the period. LPL Financial LLC increased its stake in ODP by 30.2% during the third quarter. LPL Financial LLC now owns 10,777 shares of the specialty retailer valued at $433,000 after purchasing an additional 2,500 shares during the period. Lombard Odier Asset Management USA Corp increased its stake in ODP by 20.0% during the fourth quarter. Lombard Odier Asset Management USA Corp now owns 15,000 shares of the specialty retailer valued at $589,000 after purchasing an additional 2,500 shares during the period. Finally, Sei Investments Co. increased its stake in ODP by 10.6% during the fourth quarter. Sei Investments Co. now owns 17,739 shares of the specialty retailer valued at $715,000 after purchasing an additional 1,696 shares during the period. Institutional investors hold 94.48% of the company’s shares.
ODP has been the subject of several recent analyst reports. StockNews.com upgraded the ODP from a “strong buy” rating to a “buy” rating in a Tuesday, April 19 research note. Zacks Investment Research upgraded the ODP from a “hold” rating to a “buy” rating and set a price target of $53.00 for the company in a Thursday, March 31 research note. Finally, Colliers Securities launched coverage on ODP in a research note on Friday, January 28. They issued a “buy” rating and a price target of $57.00 for the company.
About the ODP (Get a rating)
ODP Corporation provides business services and supplies, digital workplace technology products and solutions for small, medium and large businesses. The company operates in two divisions, Business Solutions and Retail. The Business Solutions division offers office supply products and services, cleaning and breakroom supplies, technology services, copy and print services, and office furniture products and services through sales forces, catalogs and telesales, as well as through websites in the United States, Puerto Rico, United States
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