ODP (NASDAQ:ODP) Sets New 52-Week Low – What’s Next?

The ODP Co. (NASDAQ:ODP)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $21.30 and last traded at $21.79, with a volume of 22262 shares traded. The stock had previously closed at $22.60.

Analysts Set New Price Targets

A number of research firms recently issued reports on ODP. StockNews.com lowered ODP from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. UBS Group decreased their price target on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th.

ODP Stock Up 2.0 %

The business’s 50-day moving average price is $24.31 and its 200 day moving average price is $28.30. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last announced its earnings results on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.89). The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. ODP’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.88 earnings per share. Sell-side analysts forecast that The ODP Co. will post 3.26 EPS for the current fiscal year.

Institutional Investors Weigh In On ODP

Hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund boosted its stake in ODP by 17.6% in the fourth quarter. New York State Common Retirement Fund now owns 11,340 shares of the specialty retailer’s stock worth $258,000 after buying an additional 1,700 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of ODP by 5.1% in the 4th quarter. Empowered Funds LLC now owns 194,875 shares of the specialty retailer’s stock valued at $4,431,000 after purchasing an additional 9,448 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of ODP by 8.4% during the 4th quarter. Wedge Capital Management L L P NC now owns 49,960 shares of the specialty retailer’s stock valued at $1,136,000 after purchasing an additional 3,892 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in ODP by 1.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 82,784 shares of the specialty retailer’s stock worth $1,883,000 after purchasing an additional 1,240 shares during the period. Finally, GAMMA Investing LLC lifted its stake in ODP by 380.1% in the fourth 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. 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.