ODP (NASDAQ:ODP) Stock Price Down 5.1% – Here’s Why

Shares of The ODP Co. (NASDAQ:ODP) fell 5.1% during mid-day trading on Monday . The stock traded as low as $21.70 and last traded at $21.76. 263,487 shares were traded during trading, a decline of 45% from the average session volume of 479,197 shares. The stock had previously closed at $22.92.

Wall Street Analyst Weigh In

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

ODP Stock Up 4.6 %

The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $684.88 million, a price-to-earnings ratio of -24.99, a P/E/G ratio of 0.60 and a beta of 1.40. The business’s 50-day moving average is $26.90 and its 200-day moving average is $31.18.

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

Institutional Trading of ODP

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP grew its holdings in shares of ODP by 170.3% during the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after buying an additional 688 shares in the last quarter. KBC Group NV boosted its stake in shares of ODP by 88.9% in the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after purchasing an additional 868 shares during the period. SG Americas Securities LLC acquired a new position in shares of ODP in the third quarter worth $104,000. Hsbc Holdings PLC acquired a new position in ODP during the 2nd quarter worth $282,000. Finally, Intech Investment Management LLC acquired a new position in shares of ODP during the second quarter worth about $338,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.

ODP Company Profile

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.