ODP (NASDAQ:ODP) Reaches New 1-Year Low – What’s Next?

The ODP Co. (NASDAQ:ODP) shares hit a new 52-week low during trading on Friday . The stock traded as low as $21.60 and last traded at $22.12, with a volume of 354658 shares traded. The stock had previously closed at $22.00.

Analysts Set New Price Targets

ODP has been the subject of several recent analyst reports. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. UBS Group cut their price target on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th.

ODP Stock Performance

The company’s 50-day moving average is $26.56 and its two-hundred day moving average is $31.06. The company has a market capitalization of $666.21 million, a P/E ratio of -24.31, a PEG ratio of 0.60 and a beta of 1.40. 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 issued its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the prior year, the company earned $1.88 earnings per share. The company’s revenue was down 11.3% compared to the same quarter last year. Equities analysts anticipate that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ODP

Hedge funds have recently bought and sold shares of the company. Quarry LP lifted its position in ODP by 170.3% during 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 boosted its position in ODP by 88.9% in the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock worth $55,000 after purchasing an additional 868 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of ODP during the 3rd quarter valued at about $104,000. GAMMA Investing LLC lifted its stake in shares of ODP by 380.1% in the 4th quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock worth $88,000 after purchasing an additional 3,071 shares during the period. Finally, Hsbc Holdings PLC purchased a new position in shares of ODP in the second quarter worth approximately $282,000. 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.