ODP (NASDAQ:ODP) Sets New 52-Week Low – What’s Next?

The ODP Co. (NASDAQ:ODP) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $23.61 and last traded at $23.80, with a volume of 6191 shares trading hands. The stock had previously closed at $24.06.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded 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 note on Thursday, November 7th.

ODP Trading Down 1.9 %

The firm’s 50 day moving average is $27.57 and its 200 day moving average is $31.67. The company has a market cap of $711.09 million, a PE ratio of -25.95, a PEG ratio of 0.60 and a beta of 1.40. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company posted $1.88 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities analysts anticipate that The ODP Co. will post 3.26 earnings per share for the current year.

Institutional Investors Weigh In On ODP

Several institutional investors have recently bought and sold shares of ODP. Jane Street Group LLC lifted its position in shares of ODP by 31.1% in the 3rd quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer’s stock worth $5,717,000 after purchasing an additional 45,627 shares during the period. Clearline Capital LP grew its holdings in shares of ODP by 108.7% during the 2nd quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock worth $4,904,000 after acquiring an additional 65,033 shares during the period. Weiss Asset Management LP raised 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 worth $16,992,000 after acquiring an additional 546,525 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of ODP by 1.0% in 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 valued at $2,458,000 after purchasing an additional 790 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of ODP by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock valued at $14,323,000 after purchasing an additional 58,062 shares in the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

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.