ODP (NASDAQ:ODP) Stock Price Down 3.9% - What's Next?

The ODP Co. (NASDAQ:ODP - Get Free Report)'s stock price was down 3.9% on Thursday . The stock traded as low as $23.80 and last traded at $23.84. Approximately 28,836 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 365,416 shares. The stock had previously closed at $24.81.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group reduced their price objective on shares of ODP from $30.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday, November 7th. StockNews.com upgraded shares of ODP from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th.

ODP Stock Up 1.7 %

The company has a market capitalization of $746.37 million, a P/E ratio of -27.23, a price-to-earnings-growth ratio of 0.37 and a beta of 1.40. The company has a 50-day moving average of $25.02 and a two-hundred day moving average of $29.84. 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 - Get Free Report) last announced its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 EPS 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 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 business's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.88 EPS. On average, research analysts predict that The ODP Co. will post 3.26 EPS for the current year.

Hedge Funds Weigh In On ODP

Several large investors have recently made changes to their positions in the business. Quarry LP increased its position in ODP by 170.3% during the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer's stock valued at $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 third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer's stock worth $55,000 after acquiring an additional 868 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of ODP during the third quarter valued at $104,000. GAMMA Investing LLC raised its position 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 last quarter. Finally, Hsbc Holdings PLC bought a new position in ODP in the 2nd quarter worth about $282,000. 99.56% of the stock is currently 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.