ODP (NASDAQ:ODP) Reaches New 1-Year Low Following Weak Earnings

Shares of The ODP Co. (NASDAQ:ODP - Get Free Report) hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $13.44 and last traded at $15.02, with a volume of 1685401 shares changing hands. The stock had previously closed at $19.19.

The specialty retailer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.14). ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion.

Analyst Ratings Changes

ODP has been the topic of several recent research reports. StockNews.com cut shares of ODP from a "buy" rating to a "hold" rating in a report on Friday. UBS Group decreased their price objective on shares of ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, November 7th.

Hedge Funds Weigh In On ODP

A number of hedge funds have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of ODP during the fourth quarter worth $1,972,000. Mackenzie Financial Corp acquired a new position in shares of ODP during the fourth quarter worth $314,000. Toronto Dominion Bank acquired a new position in shares of ODP during the fourth quarter worth $7,149,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in ODP by 29.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 106,804 shares of the specialty retailer's stock valued at $2,429,000 after buying an additional 24,198 shares during the period. Finally, Vident Advisory LLC lifted its holdings in ODP by 27.8% in the fourth quarter. Vident Advisory LLC now owns 20,915 shares of the specialty retailer's stock valued at $476,000 after buying an additional 4,548 shares during the period. Institutional investors and hedge funds own 99.56% of the company's stock.

ODP Trading Up 1.8 %

The firm has a market cap of $468.64 million, a price-to-earnings ratio of -17.10, a price-to-earnings-growth ratio of 0.30 and a beta of 1.38. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.92 and a quick ratio of 0.47. The firm's fifty day moving average is $21.68 and its 200-day moving average is $26.16.

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.