ODP (NASDAQ:ODP) Shares Down 5.1% – What’s Next?

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

Analyst Upgrades and Downgrades

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

ODP Price Performance

The firm has a market cap of $661.69 million, a price-to-earnings ratio of -24.14, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The company’s fifty day moving average is $27.24 and its two-hundred day moving average is $31.40.

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 company 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%. ODP’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.88 EPS. Equities research analysts forecast that The ODP Co. will post 3.26 EPS for the current year.

Hedge Funds Weigh In On ODP

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Alaska Department of Revenue increased its holdings in ODP by 2.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 19,156 shares of the specialty retailer’s stock worth $569,000 after purchasing an additional 394 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in ODP by 0.3% during the 3rd quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after buying an additional 459 shares during the last quarter. Quarry LP grew its position in shares of ODP by 170.3% in the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after acquiring an additional 688 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 valued at $2,458,000 after acquiring an additional 790 shares in the last quarter. Finally, KBC Group NV lifted its stake in ODP by 88.9% during the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 868 shares during the last quarter. 99.56% of the stock is owned by hedge funds and other 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.