ODP (NASDAQ:ODP) Price Target Raised to $28.00

ODP (NASDAQ:ODP) had its price objective raised by UBS Group from $19.00 to $28.00 in a research note released on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the specialty retailer’s stock.

A number of other equities research analysts have also recently weighed in on the company. Noble Financial cut ODP from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of ODP in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $28.00.

ODP Price Performance

Shares of NASDAQ ODP opened at $27.85 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.94 and a quick ratio of 0.45. The firm has a market capitalization of $838.79 million, a PE ratio of 42.20, a P/E/G ratio of 0.69 and a beta of 1.43. ODP has a 1-year low of $11.85 and a 1-year high of $28.83. The business’s fifty day moving average price is $25.79 and its two-hundred day moving average price is $20.54.

ODP (NASDAQ:ODP) last released its quarterly earnings results on Wednesday, November 5th. The specialty retailer reported $1.14 EPS for the quarter, topping the consensus estimate of $0.82 by $0.32. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.67 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. The company’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.75 earnings per share. On average, research analysts expect that ODP will post 3.26 EPS for the current year.

Institutional Investors Weigh In On ODP

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CenterBook Partners LP boosted its stake in ODP by 25.8% during the 3rd quarter. CenterBook Partners LP now owns 51,392 shares of the specialty retailer’s stock valued at $1,431,000 after purchasing an additional 10,546 shares in the last quarter. Credit Industriel ET Commercial bought a new stake in shares of ODP in the 3rd quarter worth $1,119,000. JPMorgan Chase & Co. lifted its holdings in shares of ODP by 597.6% in the third quarter. JPMorgan Chase & Co. now owns 97,407 shares of the specialty retailer’s stock valued at $2,713,000 after buying an additional 83,444 shares during the period. Versor Investments LP bought a new position in ODP during the third quarter valued at about $14,254,000. Finally, ProShare Advisors LLC bought a new position in ODP during the third quarter valued at about $416,000. Institutional investors own 99.56% of the company’s stock.

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.