ODP (NASDAQ:ODP) Reaches New 52-Week Low – Here’s What Happened

The ODP Co. (NASDAQ:ODP)’s share price 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 changing hands. The stock had previously closed at $24.06.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ODP. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group lowered their price target on shares of ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 7th.

ODP Stock Performance

The company has a fifty day moving average price of $27.24 and a two-hundred day moving average price of $31.50. 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 company has a market capitalization of $690.30 million, a P/E ratio of -25.19, 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 for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The business had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm earned $1.88 earnings per share. The company’s revenue was down 11.3% compared to the same quarter last year. Equities analysts forecast that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ODP

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its stake in shares of ODP by 0.3% in the third quarter. Principal Financial Group Inc. now owns 158,407 shares of the specialty retailer’s stock worth $4,713,000 after acquiring an additional 459 shares during the period. Geode Capital Management LLC boosted its stake in shares of ODP by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after purchasing an additional 3,041 shares during the last quarter. Barclays PLC increased its position in shares of ODP by 114.3% during the third quarter. Barclays PLC now owns 99,671 shares of the specialty retailer’s stock worth $2,965,000 after buying an additional 53,160 shares during the period. Jane Street Group LLC raised its stake in ODP by 31.1% during the third quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer’s stock worth $5,717,000 after buying an additional 45,627 shares during the last quarter. Finally, Weiss Asset Management LP lifted its holdings in ODP by 2,219.3% in the third 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 period. 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.