ODP (NASDAQ:ODP) Trading 5.1% Higher – Here’s What Happened

The ODP Co. (NASDAQ:ODP)’s stock price shot up 5.1% on Tuesday . The stock traded as high as $22.91 and last traded at $22.85. 53,813 shares changed hands during trading, a decline of 89% from the average session volume of 479,009 shares. The stock had previously closed at $21.75.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ODP shares. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group cut their price target on 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 Up 4.6 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47. The business’s 50-day moving average price is $26.73 and its two-hundred day moving average price is $31.12. The company has a market capitalization of $684.88 million, a P/E ratio of -24.99, a PEG ratio of 0.60 and a beta of 1.40.

ODP (NASDAQ:ODP) last posted its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). The business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The firm’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.88 earnings per share. As a group, analysts forecast that The ODP Co. will post 3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On ODP

Several large investors have recently made changes to their positions in ODP. Jane Street Group LLC increased its holdings in 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 purchasing an additional 45,627 shares in the last quarter. Clearline Capital LP boosted its position in shares of ODP by 108.7% during the second quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock worth $4,904,000 after buying an additional 65,033 shares during the period. Geode Capital Management LLC grew its holdings in shares of ODP by 0.4% during the third quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock worth $24,219,000 after buying an additional 3,041 shares in the last quarter. Weiss Asset Management LP raised its position in 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 buying an additional 546,525 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in 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 acquiring an additional 790 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.