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

The ODP Co. (NASDAQ:ODP) traded down 4.3% during mid-day trading on Wednesday . The company traded as low as $23.42 and last traded at $23.40. 146,000 shares traded hands during trading, a decline of 61% from the average session volume of 373,373 shares. The stock had previously closed at $24.46.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ODP shares. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group cut their price target on ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th.

ODP Stock Performance

The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The firm has a market cap of $688.84 million, a PE ratio of -25.13, a P/E/G ratio of 0.41 and a beta of 1.40. The firm has a 50-day moving average price of $24.96 and a two-hundred day moving average price of $29.49.

ODP (NASDAQ:ODP) last released its quarterly earnings data 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). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period last year, the firm posted $1.88 EPS. The business’s quarterly revenue was down 11.3% on a year-over-year basis. Research analysts forecast that The ODP Co. will post 3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On ODP

Hedge funds have recently bought and sold shares of the company. Quarry LP increased 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 acquiring an additional 688 shares during the period. KBC Group NV raised its holdings 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 in the last quarter. GAMMA Investing LLC raised its holdings in ODP by 380.1% in the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after acquiring an additional 3,071 shares in the last quarter. SG Americas Securities LLC acquired a new position in ODP during the 3rd quarter worth approximately $104,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ODP by 13.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer’s stock valued at $268,000 after purchasing an additional 1,049 shares during the last quarter. Institutional investors and hedge funds 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.