ODP (NASDAQ:ODP) Trading Down 4.3% – Time to Sell?

Shares of The ODP Co. (NASDAQ:ODP) dropped 4.3% on Wednesday . The company traded as low as $23.42 and last traded at $23.40. Approximately 146,000 shares were traded during trading, a decline of 61% from the average daily volume of 373,373 shares. The stock had previously closed at $24.46.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group reduced their target price 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.

ODP Stock Down 0.0 %

The firm’s 50-day simple moving average is $24.81 and its 200 day simple moving average is $29.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92. The company has a market cap of $677.40 million, a P/E ratio of -24.71, a PEG ratio of 0.38 and a beta of 1.40.

ODP (NASDAQ:ODP) last released its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company posted $1.88 EPS. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. On average, research analysts forecast that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ODP

Several large investors have recently bought and sold shares of ODP. Quarry LP raised its position in shares of ODP by 170.3% during the second quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 688 shares during the period. KBC Group NV increased its stake in ODP by 88.9% during the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 868 shares in the last quarter. GAMMA Investing LLC raised its holdings in ODP by 380.1% during the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock worth $88,000 after buying an additional 3,071 shares during the period. SG Americas Securities LLC bought a new position in ODP in the third quarter valued at approximately $104,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ODP by 13.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer’s stock valued at $268,000 after buying an additional 1,049 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.