ODP (NASDAQ:ODP) Shares Cross Above 200 Day Moving Average – Should You Sell?

by · The Markets Daily

The ODP Corporation (NASDAQ:ODP – Get Free Report)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $19.81 and traded as high as $27.83. ODP shares last traded at $27.77, with a volume of 1,462,078 shares changing hands.

Wall Street Analyst Weigh In

ODP has been the topic of several research analyst reports. UBS Group raised their target price on shares of ODP from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Weiss Ratings reissued a “sell (d)” rating on shares of ODP in a research note on Wednesday, October 8th. Finally, Noble Financial cut shares of ODP from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, September 23rd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $19.00.

Check Out Our Latest Stock Analysis on ODP

ODP Price Performance

The company’s 50 day moving average price is $24.78 and its 200-day moving average price is $19.81. The company has a market cap of $835.43 million, a price-to-earnings ratio of 42.08, a PEG ratio of 0.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.45 and a current ratio of 0.94.

ODP (NASDAQ:ODP – Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.18. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.59 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. On average, equities research analysts forecast that The ODP Corporation will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue purchased a new position in shares of ODP in the third quarter worth approximately $31,000. AlphaQuest LLC purchased a new position in shares of ODP in the first quarter worth approximately $41,000. Headlands Technologies LLC purchased a new position in shares of ODP in the first quarter worth approximately $47,000. Parallel Advisors LLC increased its position in shares of ODP by 3,033.3% in the second quarter. Parallel Advisors LLC now owns 2,820 shares of the specialty retailer’s stock worth $51,000 after acquiring an additional 2,730 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of ODP by 35.9% during the second quarter. Farther Finance Advisors LLC now owns 3,611 shares of the specialty retailer’s stock worth $65,000 after purchasing an additional 954 shares during the period. 99.56% of the stock is owned by hedge funds and other institutional investors.

About ODP

(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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