ODP (NASDAQ:ODP) Reaches New 52-Week Low – Should You Sell?

The ODP Co. (NASDAQ:ODP)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $23.61 and last traded at $23.80, with a volume of 6191 shares. The stock had previously closed at $24.06.

Analysts Set New Price Targets

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

ODP Trading Down 1.9 %

The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $27.57 and a 200-day moving average price of $31.67. The company has a market cap of $711.09 million, a P/E ratio of -25.95, a PEG ratio of 0.60 and a beta of 1.40.

ODP (NASDAQ:ODP) last announced 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 business 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%. ODP’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period last year, the firm earned $1.88 EPS. Analysts forecast that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ODP

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of ODP by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 304,279 shares of the specialty retailer’s stock valued at $11,949,000 after buying an additional 8,618 shares during the period. Innealta Capital LLC acquired a new position in ODP during the 2nd quarter worth approximately $68,000. Picton Mahoney Asset Management bought a new position in shares of ODP in the 2nd quarter worth $164,000. Rhumbline Advisers grew its position in ODP by 0.9% in the 2nd quarter. Rhumbline Advisers now owns 109,855 shares of the specialty retailer’s stock valued at $4,314,000 after purchasing an additional 1,000 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in shares of ODP by 121.1% during the second quarter. Victory Capital Management Inc. now owns 51,501 shares of the specialty retailer’s stock valued at $2,022,000 after buying an additional 28,210 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.