ODP (NASDAQ:ODP) Reaches New 52-Week Low – Time to Sell?

Shares of The ODP Co. (NASDAQ:ODP) 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 issued reports on ODP shares. UBS Group cut their target price on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded shares of ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

ODP Stock Performance

The company has a fifty day moving average of $25.85 and a two-hundred day moving average of $30.53. The stock has a market capitalization of $673.14 million, a P/E ratio of -24.56, 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 current ratio of 0.92 and a quick ratio of 0.47.

ODP (NASDAQ:ODP) last issued its quarterly 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). The firm had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. ODP’s revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.88 earnings per share. On average, equities analysts anticipate that The ODP Co. will post 3.26 EPS for the current year.

Institutional Investors Weigh In On ODP

A number of institutional investors have recently modified their holdings of ODP. DME Capital Management LP boosted its stake in ODP by 29.9% in the second quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer’s stock valued at $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 3rd quarter. State Street Corp now owns 1,542,725 shares of the specialty retailer’s stock worth $45,896,000 after purchasing an additional 74,015 shares during the last quarter. American Century Companies Inc. boosted its position in ODP by 19.6% during the 2nd quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock valued at $32,707,000 after purchasing an additional 136,730 shares during the period. Geode Capital Management LLC grew its stake in ODP by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock worth $24,219,000 after buying an additional 3,041 shares during the last quarter. Finally, Weiss Asset Management LP increased 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 worth $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.