ODP (NASDAQ:ODP) Sets New 12-Month Low – Here’s What Happened

The ODP Co. (NASDAQ:ODP)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.52 and last traded at $22.35, with a volume of 369354 shares. The stock had previously closed at $22.35.

Wall Street Analysts Forecast Growth

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

ODP Stock Performance

The company’s fifty day moving average price is $25.68 and its two-hundred day moving average price is $30.47. The firm has a market capitalization of $671.93 million, a PE ratio of -24.52, 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.

ODP (NASDAQ:ODP) last announced 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). The company had revenue of $1.78 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. As a group, equities analysts expect that The ODP Co. will post 3.26 earnings per share for the current year.

Hedge Funds Weigh In On ODP

Several hedge funds and other institutional investors have recently modified their holdings of ODP. Jane Street Group LLC raised its holdings in ODP by 31.1% in the third quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer’s stock valued at $5,717,000 after buying an additional 45,627 shares during the period. Clearline Capital LP boosted its position in ODP by 108.7% during the 2nd quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer’s stock worth $4,904,000 after purchasing an additional 65,033 shares during the period. Geode Capital Management LLC increased its holdings in 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 in the last quarter. Weiss Asset Management LP raised its position 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 purchasing an additional 546,525 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of ODP by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer’s stock worth $2,458,000 after purchasing an additional 790 shares in the last quarter. 99.56% of the stock is owned by institutional investors and hedge funds.

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.