ODP (NASDAQ:ODP) Hits New 12-Month Low – Here’s Why

The ODP Co. (NASDAQ:ODP) shares hit a new 52-week low on Friday . The company traded as low as $21.60 and last traded at $22.12, with a volume of 354658 shares. The stock had previously closed at $22.00.

Analysts Set New Price Targets

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

ODP Stock Performance

The business has a fifty day moving average price of $26.38 and a 200-day moving average price of $30.87. The stock has a market capitalization of $666.21 million, a P/E ratio of -24.31, a P/E/G ratio of 0.60 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.92 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 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.89). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The business’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.88 EPS. On average, sell-side analysts expect that The ODP Co. will post 3.26 EPS for the current year.

Institutional Trading of ODP

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DME Capital Management LP boosted its stake in shares of ODP by 29.9% in the second quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock worth $87,276,000 after acquiring an additional 511,890 shares during the period. State Street Corp lifted its holdings in shares of ODP by 5.0% in the third quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock worth $45,896,000 after buying an additional 74,015 shares in the last quarter. American Century Companies Inc. boosted its position in shares of ODP by 19.6% during the second quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock worth $32,707,000 after acquiring an additional 136,730 shares during the last quarter. Geode Capital Management LLC grew its stake in ODP by 0.4% during the third quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after acquiring an additional 3,041 shares in the last quarter. Finally, Weiss Asset Management LP lifted its stake 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 worth $16,992,000 after purchasing an additional 546,525 shares in the last quarter. Hedge funds and other 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.