ODP (NASDAQ:ODP) Stock Price Down 4.3% – Should You Sell?

Shares of The ODP Co. (NASDAQ:ODP) were down 4.3% on Wednesday . The company traded as low as $23.42 and last traded at $23.40. Approximately 146,000 shares were traded during trading, a decline of 61% from the average daily volume of 373,373 shares. The stock had previously closed at $24.46.

Analyst Upgrades and Downgrades

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

ODP Trading Down 0.0 %

The business has a 50-day moving average of $24.81 and a two-hundred day moving average of $29.29. 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 firm has a market capitalization of $677.40 million, a price-to-earnings ratio of -24.71, a P/E/G ratio of 0.38 and a beta of 1.40.

ODP (NASDAQ:ODP) last posted its quarterly earnings results 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 business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.88 EPS. Research analysts predict that The ODP Co. will post 3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On ODP

Large investors have recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its stake in ODP by 2.1% in the third quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer’s stock worth $569,000 after purchasing an additional 394 shares in the last quarter. Principal Financial Group Inc. lifted its position in ODP by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after buying an additional 459 shares in the last quarter. Quarry LP lifted its position in ODP by 170.3% during the 2nd 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 acquiring an additional 790 shares during the last quarter. Finally, KBC Group NV increased its position in ODP by 88.9% in the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 868 shares in the last quarter. 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.