The ODP (NASDAQ:ODP) Stock Rating Upgraded by JPMorgan Chase & Co.


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The ODP (NASDAQ:ODP) was upgraded by equities research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Anlyst Ratings reports. The brokerage currently has a $40.00 price target on the specialty retailer’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 11.25% from the stock’s current price.

ODP has been the topic of several other reports. Zacks Investment Research upgraded The ODP from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research report on Monday, November 16th. BidaskClub upgraded The ODP from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 9th. UBS Group lifted their price target on The ODP from $18.00 to $21.00 and gave the company a “sell” rating in a research report on Friday, November 6th. Finally, ValuEngine raised The ODP from a “sell” rating to a “hold” rating in a report on Tuesday, November 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $36.00.

NASDAQ ODP opened at $45.07 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 1.08 and a debt-to-equity ratio of 0.20. The ODP has a twelve month low of $13.60 and a twelve month high of $46.67. The firm has a market capitalization of $2.37 billion, a PE ratio of -8.42, a P/E/G ratio of 0.85 and a beta of 2.45. The stock’s 50 day moving average is $30.27 and its 200 day moving average is $24.17.

The ODP (NASDAQ:ODP) last released its quarterly earnings results on Thursday, November 5th. The specialty retailer reported $1.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.09 by $0.71. The ODP had a positive return on equity of 11.61% and a negative net margin of 2.84%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period in the previous year, the company posted $0.15 earnings per share. The firm’s revenue was down 8.7% on a year-over-year basis. On average, research analysts anticipate that The ODP will post 4.55 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its holdings in shares of The ODP by 166.2% during the second quarter. Bank of Montreal Can now owns 63,506 shares of the specialty retailer’s stock valued at $1,270,000 after purchasing an additional 39,653 shares in the last quarter. Baird Financial Group Inc. bought a new position in shares of The ODP during the second quarter valued at $28,000. Cubist Systematic Strategies LLC lifted its holdings in shares of The ODP by 250.9% during the second quarter. Cubist Systematic Strategies LLC now owns 362,413 shares of the specialty retailer’s stock valued at $852,000 after purchasing an additional 259,120 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of The ODP by 271.8% during the second quarter. Sei Investments Co. now owns 619,798 shares of the specialty retailer’s stock valued at $1,400,000 after purchasing an additional 453,094 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of The ODP by 64.4% during the second quarter. AQR Capital Management LLC now owns 1,639,647 shares of the specialty retailer’s stock valued at $3,853,000 after purchasing an additional 642,490 shares in the last quarter.

The ODP Company Profile

The ODP Corporation provides business services and supplies, products, and technology solutions for small, medium, and enterprise businesses. The company operates in three divisions: Business Solutions, Retail, and CompuCom. 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 Internet Websites in the United States, Puerto Rico, the U.S.

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