ODP (NASDAQ:ODP) Stock Price Down 5.1% - Should You Sell?

The ODP Co. (NASDAQ:ODP - Get Free Report)'s stock price was down 5.1% during mid-day trading on Monday . The company traded as low as $21.70 and last traded at $21.76. Approximately 263,487 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 479,197 shares. The stock had previously closed at $22.92.

Analyst Upgrades and Downgrades

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

ODP Stock Performance

The stock has a 50 day moving average price of $27.24 and a two-hundred day moving average price of $31.40. The company has a market cap of $655.07 million, a P/E ratio of -23.90, a price-to-earnings-growth 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 - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 EPS 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 business had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the company posted $1.88 earnings per share. The company's revenue was down 11.3% on a year-over-year basis. On average, research analysts predict that The ODP Co. will post 3.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ODP

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC grew its holdings in shares of ODP by 31.1% during the 3rd quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer's stock worth $5,717,000 after purchasing an additional 45,627 shares in the last quarter. Clearline Capital LP increased its holdings in ODP by 108.7% in the 2nd quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer's stock valued at $4,904,000 after buying an additional 65,033 shares during the period. Weiss Asset Management LP raised its position in shares of ODP by 2,219.3% in the 3rd quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer's stock valued at $16,992,000 after buying an additional 546,525 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ODP by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 813,895 shares of the specialty retailer's stock worth $24,219,000 after acquiring an additional 3,041 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of ODP by 1.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer's stock worth $2,458,000 after acquiring an additional 790 shares in the last quarter. 99.56% of the stock is currently owned by 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.