ODP (NASDAQ:ODP) Reaches New 1-Year Low - Here's Why

Shares of The ODP Co. (NASDAQ:ODP - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $21.60 and last traded at $22.12, with a volume of 354658 shares changing hands. The stock had previously closed at $22.00.

Analysts Set New Price Targets

ODP has been the subject of a number of recent analyst reports. UBS Group decreased their price target on ODP from $30.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, November 7th. StockNews.com raised ODP from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th.

ODP Stock Up 0.5 %

The company has a market cap of $666.21 million, a P/E ratio of -24.31, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. The firm's 50 day moving average price is $26.38 and its two-hundred day moving average price is $30.93. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

ODP (NASDAQ:ODP - Get Free Report) last posted its quarterly 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). The company had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%. The company's revenue for the quarter was down 11.3% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. Equities research analysts anticipate that The ODP Co. will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quarry LP grew its holdings in 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 buying an additional 688 shares in the last quarter. KBC Group NV grew its stake in shares of ODP by 88.9% in the 3rd quarter. KBC Group NV now owns 1,844 shares of the specialty retailer's stock worth $55,000 after acquiring an additional 868 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 purchasing an additional 3,071 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of ODP during the third quarter valued at about $104,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in ODP by 13.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer's stock worth $268,000 after purchasing an additional 1,049 shares during the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

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.