ODP (NASDAQ:ODP) Shares Gap Down to $26.33

Shares of The ODP Co. (NASDAQ:ODP) gapped down prior to trading on Wednesday . The stock had previously closed at $26.33, but opened at $25.48. ODP shares last traded at $25.83, with a volume of 28,286 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ODP shares. StockNews.com cut shares of ODP from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. UBS Group cut their target price on ODP from $53.00 to $30.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th.

ODP Stock Performance

The business’s 50-day simple moving average is $38.32 and its two-hundred day simple moving average is $45.46. The company has a quick ratio of 0.49, a current ratio of 0.94 and a debt-to-equity ratio of 0.11. The firm has a market cap of $914.60 million, a price-to-earnings ratio of 12.29, a P/E/G ratio of 0.45 and a beta of 1.59.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.56 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.64). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.76 billion. ODP had a return on equity of 16.67% and a net margin of 1.08%. ODP’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, sell-side analysts expect that The ODP Co. will post 6.4 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Wendy Lee Schoppert purchased 3,875 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $25.77 per share, for a total transaction of $99,858.75. Following the acquisition, the director now directly owns 3,875 shares of the company’s stock, valued at $99,858.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On ODP

Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in ODP in the 4th quarter valued at approximately $21,070,000. Thompson Siegel & Walmsley LLC grew its stake 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 valued at $12,966,000 after buying an additional 170,149 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of ODP by 15.7% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock valued at $67,989,000 after buying an additional 164,020 shares during the period. Pennant Select LLC acquired a new position in ODP during the 4th quarter worth about $7,826,000. Finally, American Century Companies Inc. grew its position in ODP by 19.6% in the 2nd quarter. American Century Companies Inc. now owns 832,871 shares of the specialty retailer’s stock valued at $32,707,000 after acquiring an additional 136,730 shares in the last quarter. 99.56% of the stock is 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.