ODP (NASDAQ:ODP) Stock Price Down 5.1% – Here’s What Happened

The ODP Co. (NASDAQ:ODP) shares fell 5.1% on Monday . The company traded as low as $21.70 and last traded at $21.76. 263,487 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 479,197 shares. The stock had previously closed at $22.92.

Analyst Ratings Changes

ODP has been the subject of several research reports. UBS Group reduced their price objective on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

ODP Trading Down 4.1 %

The business has a 50 day moving average of $27.24 and a 200-day moving average of $31.40. The stock has a market cap of $661.69 million, a PE ratio of -24.14, a price-to-earnings-growth 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 data 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 analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the company earned $1.88 earnings per share. The firm’s revenue was down 11.3% compared to the same quarter last year. On average, analysts anticipate that The ODP Co. will post 3.26 EPS for the current year.

Hedge Funds Weigh In On ODP

Several institutional investors and hedge funds have recently modified their holdings of ODP. Quarry LP raised its holdings in ODP by 170.3% in the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock valued at $43,000 after acquiring an additional 688 shares during the last quarter. KBC Group NV increased its stake in ODP by 88.9% in the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after purchasing an additional 868 shares during the last quarter. SG Americas Securities LLC purchased a new position in ODP during the third quarter worth about $104,000. Picton Mahoney Asset Management purchased a new position in ODP during the second quarter worth about $164,000. Finally, Hsbc Holdings PLC acquired a new stake in ODP in the 2nd quarter worth about $282,000. Hedge funds and other institutional investors own 99.56% of the company’s stock.

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.