ODP (NASDAQ:ODP) Reaches New 52-Week Low – Here’s What Happened

The ODP Co. (NASDAQ:ODP) reached a new 52-week low during trading on Friday . The company traded as low as $21.60 and last traded at $22.12, with a volume of 354658 shares. The stock had previously closed at $22.00.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ODP. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group decreased 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.

ODP Stock Up 0.5 %

The company’s 50 day moving average is $26.56 and its two-hundred day moving average is $31.06. The company has a market capitalization of $666.21 million, a PE ratio of -24.31, a PEG ratio of 0.60 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in ODP by 380.1% during the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after purchasing an additional 3,071 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of ODP by 0.3% during the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock valued at $4,713,000 after buying an additional 459 shares during the period. Geode Capital Management LLC increased its position in ODP by 0.4% during 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. Barclays PLC raised its holdings in shares of ODP by 114.3% in the 3rd quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock valued at $2,965,000 after purchasing an additional 53,160 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in ODP by 31.1% during 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 period. Hedge funds and other institutional investors own 99.56% of the company’s stock.

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.