ODP (NASDAQ:ODP) Trading Down 4.4% – Here’s What Happened

The ODP Co. (NASDAQ:ODP) shares were down 4.4% during trading on Thursday . The stock traded as low as $24.72 and last traded at $24.89. Approximately 150,926 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 471,669 shares. The stock had previously closed at $26.04.

Analyst Ratings Changes

ODP has been the topic of several research reports. UBS Group dropped 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 ODP from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th.

ODP Trading Down 5.5 %

The stock has a market capitalization of $741.51 million, a PE ratio of -27.05, a PEG ratio of 0.60 and a beta of 1.40. The stock’s 50 day moving average price is $28.16 and its 200-day moving average price is $32.18. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last posted its earnings results 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 firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The firm’s revenue was down 11.3% compared to the same quarter last year. On average, sell-side analysts expect that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. CWM LLC increased its stake in shares of ODP by 81.3% in the second quarter. CWM LLC now owns 941 shares of the specialty retailer’s stock worth $37,000 after acquiring an additional 422 shares during the period. Quarry LP grew its position in shares of 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 purchasing an additional 688 shares during the period. KBC Group NV lifted its holdings in ODP by 88.9% in the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after purchasing an additional 868 shares in the last quarter. Innealta Capital LLC purchased a new stake in ODP during the 2nd quarter valued at about $68,000. Finally, SG Americas Securities LLC acquired a new stake in shares of ODP in the third quarter valued at approximately $104,000. 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.