ODP (NASDAQ:ODP) Trading Down 3.9% – What’s Next?

The ODP Co. (NASDAQ:ODP)’s share price fell 3.9% during trading on Thursday . The company traded as low as $23.80 and last traded at $23.84. 28,836 shares traded hands during trading, a decline of 92% from the average session volume of 365,416 shares. The stock had previously closed at $24.81.

Analyst Upgrades and Downgrades

ODP has been the topic of several analyst reports. UBS Group lowered their target price on shares of 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 report on Thursday, November 7th.

ODP Stock Up 1.7 %

The firm has a market cap of $746.37 million, a price-to-earnings ratio of -27.23, a P/E/G ratio of 0.37 and a beta of 1.40. The firm has a 50 day moving average price of $25.02 and a 200-day moving average price of $29.84. The company has a current ratio of 0.92, a quick ratio of 0.47 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 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the company earned $1.88 EPS. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities analysts forecast that The ODP Co. will post 3.26 EPS for the current year.

Institutional Investors Weigh In On ODP

Hedge funds and other institutional investors have recently modified their holdings of the company. DME Capital Management LP grew its holdings in ODP by 29.9% in the 2nd quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock valued at $87,276,000 after buying an additional 511,890 shares during the period. State Street Corp boosted its holdings in shares of ODP by 5.0% in the 3rd quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock valued at $45,896,000 after purchasing an additional 74,015 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 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 buying an additional 3,041 shares during the period. Weiss Asset Management LP increased its holdings in shares of ODP by 2,219.3% during the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock worth $16,992,000 after buying an additional 546,525 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of ODP by 13.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock worth $14,323,000 after buying an additional 58,062 shares during the period. 99.56% of the stock is currently owned by hedge funds and other 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.