ODP (NASDAQ:ODP) Reaches New 12-Month Low – What’s Next?

The ODP Co. (NASDAQ:ODP)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.30 and last traded at $21.79, with a volume of 22262 shares traded. The stock had previously closed at $22.60.

Analysts Set New Price Targets

ODP has been the topic of a number of analyst reports. UBS Group reduced their price objective on shares of ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. StockNews.com downgraded ODP from a “buy” rating to a “hold” rating in a research note on Friday.

ODP Price Performance

The business’s fifty day simple moving average is $24.51 and its 200 day simple moving average is $28.57. The firm has a market capitalization of $640.95 million, a price-to-earnings ratio of -23.41, a PEG ratio of 0.37 and a beta of 1.38. 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 posted 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 for the quarter, compared to analyst estimates of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company posted $1.88 earnings per share. On average, 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 hedge funds have recently added to or reduced their stakes in ODP. State Street Corp raised its stake in shares of ODP by 5.0% during 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 period. Geode Capital Management LLC boosted its stake in ODP by 0.4% in the third quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer’s stock valued at $24,219,000 after acquiring an additional 3,041 shares during the last quarter. Weiss Asset Management LP grew its position in shares of ODP by 2,219.3% during the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock valued at $16,992,000 after acquiring an additional 546,525 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of ODP by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer’s stock worth $14,323,000 after purchasing an additional 58,062 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of ODP by 5.1% in the 4th quarter. Empowered Funds LLC now owns 194,875 shares of the specialty retailer’s stock worth $4,431,000 after purchasing an additional 9,448 shares during the period. Institutional investors and hedge funds 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.