ODP (NASDAQ:ODP) Sets New 12-Month Low - Here's What Happened

Shares of The ODP Co. (NASDAQ:ODP - Get Free Report) reached a new 52-week low during trading on Thursday . The stock traded as low as $21.52 and last traded at $22.35, with a volume of 369354 shares changing hands. The stock had previously closed at $22.35.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ODP. StockNews.com upgraded shares of ODP from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. 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 note on Thursday, November 7th.

ODP Price Performance

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 stock has a market capitalization of $673.14 million, a PE ratio of -24.56, a price-to-earnings-growth ratio of 0.60 and a beta of 1.40. The company's 50-day moving average is $25.68 and its 200 day moving average is $30.47.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.89). The firm had revenue of $1.78 billion during the quarter, compared to analysts' expectations of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The company's revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. As a group, analysts anticipate that The ODP Co. will post 3.26 EPS for the current year.

Institutional Investors Weigh In On ODP

Several hedge funds have recently added to or reduced their stakes in ODP. Weiss Asset Management LP grew its stake in shares of ODP by 2,219.3% during the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer's stock worth $16,992,000 after purchasing an additional 546,525 shares during the period. DME Capital Management LP grew its position in ODP by 29.9% during the second quarter. DME Capital Management LP now owns 2,222,470 shares of the specialty retailer's stock valued at $87,276,000 after buying an additional 511,890 shares during the period. Thompson Siegel & Walmsley LLC raised its position in shares of ODP by 106.3% in the second quarter. Thompson Siegel & Walmsley LLC now owns 330,177 shares of the specialty retailer's stock worth $12,966,000 after acquiring an additional 170,149 shares during the period. American Century Companies Inc. boosted its stake in shares of ODP by 19.6% during the 2nd quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer's stock worth $32,707,000 after acquiring an additional 136,730 shares in the last quarter. Finally, Mork Capital Management LLC grew its position in shares of ODP by 150.0% during the 3rd quarter. Mork Capital Management LLC now owns 125,000 shares of the specialty retailer's stock valued at $3,719,000 after acquiring an additional 75,000 shares during the period. 99.56% of the stock is owned by hedge funds and other institutional investors.

About ODP

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.