ODP (NASDAQ:ODP) Trading Down 4.4% – What’s Next?

by · The Cerbat Gem

The ODP Co. (NASDAQ:ODP – Get Free Report)’s stock price dropped 4.4% during trading on Thursday . The company traded as low as $24.72 and last traded at $24.89. Approximately 150,926 shares traded hands during trading, a decline of 68% from the average daily volume of 471,669 shares. The stock had previously closed at $26.04.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group decreased their target price on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research report on Thursday, November 7th.

View Our Latest Analysis on ODP

ODP Stock Performance

The firm’s fifty day moving average price is $27.93 and its 200 day moving average price is $32.02. The firm has a market cap of $733.98 million, a P/E ratio of -26.78, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

ODP (NASDAQ:ODP – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The business’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the firm earned $1.88 EPS. Sell-side analysts expect that The ODP Co. will post 3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On ODP

A number of large investors have recently added to or reduced their stakes in ODP. Principal Financial Group Inc. grew its holdings in ODP by 0.3% in the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after purchasing an additional 459 shares during the last quarter. Geode Capital Management LLC grew its stake in ODP by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock worth $24,219,000 after buying an additional 3,041 shares during the last quarter. Barclays PLC grew its stake in ODP by 114.3% during the 3rd quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock worth $2,965,000 after buying an additional 53,160 shares during the last quarter. Jane Street Group LLC raised its stake in ODP by 31.1% in the third quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer’s stock valued at $5,717,000 after buying an additional 45,627 shares during the last quarter. Finally, Weiss Asset Management LP raised its stake in ODP by 2,219.3% in the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock valued at $16,992,000 after buying an additional 546,525 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors.

ODP Company Profile

(Get Free Report)

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.

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