ODP (NASDAQ:ODP) Reaches New 1-Year Low – What’s Next?

The ODP Co. (NASDAQ:ODP)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.52 and last traded at $22.35, with a volume of 369354 shares traded. The stock had previously closed at $22.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ODP shares. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group dropped their price target on shares of ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th.

ODP Stock Performance

The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $25.85 and a 200-day moving average price of $30.53. The company has a market capitalization of $673.14 million, a price-to-earnings ratio of -24.56, a PEG ratio of 0.60 and a beta of 1.40.

ODP (NASDAQ:ODP) last released its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. ODP’s revenue was down 11.3% on a year-over-year basis. As a group, sell-side analysts predict that The ODP Co. will post 3.26 EPS for the current year.

Institutional Trading of ODP

A number of large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in shares of 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 in the last quarter. Clearline Capital LP raised its position in shares of ODP by 108.7% during the second quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock worth $4,904,000 after purchasing an additional 65,033 shares during the period. Geode Capital Management LLC boosted its position in shares of ODP by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after purchasing an additional 3,041 shares during the period. Weiss Asset Management LP boosted its position in shares of ODP by 2,219.3% in the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock valued at $16,992,000 after purchasing an additional 546,525 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in ODP by 1.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer’s stock worth $2,458,000 after buying an additional 790 shares during the period. 99.56% of the stock is currently owned by institutional investors.

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.