ODP (NASDAQ:ODP) Trading Down 4.4% - Should You Sell?

The ODP Co. (NASDAQ:ODP - Get Free Report)'s stock price traded down 4.4% during mid-day trading on Thursday . The company traded as low as $24.72 and last traded at $24.89. 150,926 shares were traded during mid-day trading, a decline of 68% from the average session volume of 471,669 shares. The stock had previously closed at $26.04.

Wall Street Analysts Forecast Growth

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

ODP Stock Down 6.6 %

The stock has a fifty day moving average of $28.04 and a two-hundred day moving average of $32.12. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. The stock has a market cap of $732.47 million, a price-to-earnings ratio of -26.73, a PEG ratio of 0.60 and a beta of 1.40.

ODP (NASDAQ:ODP - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.78 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.88 earnings per share. As a group, analysts predict that The ODP Co. will post 3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On ODP

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC boosted its position in shares of ODP by 31.1% in the third quarter. Jane Street Group LLC now owns 192,184 shares of the specialty retailer's stock worth $5,717,000 after buying an additional 45,627 shares during the period. Clearline Capital LP lifted its position in ODP by 108.7% during the 2nd quarter. Clearline Capital LP now owns 124,886 shares of the specialty retailer's stock worth $4,904,000 after acquiring an additional 65,033 shares in the last quarter. Weiss Asset Management LP grew its position in ODP by 2,219.3% in the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer's stock valued at $16,992,000 after acquiring an additional 546,525 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of ODP by 1.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 82,606 shares of the specialty retailer's stock valued at $2,458,000 after purchasing an additional 790 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of ODP by 13.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 481,450 shares of the specialty retailer's stock worth $14,323,000 after purchasing an additional 58,062 shares in the last quarter. 99.56% of the stock is currently owned by hedge funds and other institutional investors.

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.