ODP (NASDAQ:ODP) Hits New 1-Year Low – Should You Sell?

Shares of The ODP Co. (NASDAQ:ODP) 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 traded. The stock had previously closed at $24.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. UBS Group decreased their price objective 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 Down 1.5 %

The firm’s 50 day simple moving average is $27.24 and its two-hundred day simple moving average is $31.50. The firm has a market cap of $690.30 million, a price-to-earnings ratio of -25.19, a PEG ratio of 0.60 and a beta of 1.40. 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 issued 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 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 firm posted $1.88 earnings per share. The company’s quarterly revenue 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.

Hedge Funds Weigh In On ODP

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