ODP (NASDAQ:ODP) Trading Down 5.8% – What’s Next?

The ODP Co. (NASDAQ:ODP) shares dropped 5.8% during trading on Monday . The company traded as low as $24.20 and last traded at $24.20. Approximately 103,994 shares were traded during trading, a decline of 78% from the average daily volume of 467,667 shares. The stock had previously closed at $25.68.

Wall Street Analyst Weigh In

ODP has been the subject of a number of recent research reports. StockNews.com raised ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group reduced their target price on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 7th.

ODP Trading Down 6.5 %

The company has a market capitalization of $723.18 million, a P/E ratio of -28.22, a price-to-earnings-growth ratio of 0.56 and a beta of 1.48. 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 firm has a fifty day moving average price of $28.93 and a 200-day moving average price of $33.29.

ODP (NASDAQ:ODP) last released its earnings results 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). ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company earned $1.88 earnings per share. The business’s revenue was down 11.3% on a year-over-year basis. On average, equities research analysts anticipate that The ODP Co. will post 3.26 earnings per share for the current year.

Hedge Funds Weigh In On ODP

Several institutional investors have recently bought and sold shares of ODP. CWM LLC lifted its position in shares of ODP by 81.3% during the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 422 shares in the last quarter. Quarry LP increased its stake in ODP by 170.3% in the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock valued at $43,000 after acquiring an additional 688 shares during the last quarter. Innealta Capital LLC bought a new position in ODP in the second quarter valued at $68,000. KBC Group NV increased its stake in ODP by 88.9% in the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 868 shares during the last quarter. Finally, Gladius Capital Management LP increased its stake in ODP by 227.8% in the second quarter. Gladius Capital Management LP now owns 2,180 shares of the specialty retailer’s stock valued at $86,000 after acquiring an additional 1,515 shares during 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.