ODP (NASDAQ:ODP) Reaches New 1-Year Low – What’s Next?

The ODP Co. (NASDAQ:ODP) shares hit a new 52-week low on Tuesday . The stock traded as low as $19.41 and last traded at $19.63, with a volume of 89397 shares trading hands. The stock had previously closed at $20.18.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group reduced their target price on shares of ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a report on Thursday, November 7th. StockNews.com cut ODP from a “buy” rating to a “hold” rating in a report on Friday, January 31st.

ODP Stock Down 4.3 %

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 fifty day moving average price of $22.75 and a two-hundred day moving average price of $26.69. The company has a market cap of $544.27 million, a price-to-earnings ratio of -19.86, a P/E/G ratio of 0.32 and a beta of 1.38.

Institutional Investors Weigh In On ODP

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC increased its stake in 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 acquiring an additional 45,627 shares during the period. Geode Capital Management LLC grew 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 purchasing an additional 3,041 shares in the last quarter. Weiss Asset Management LP increased its position in shares of ODP by 2,219.3% in the third quarter. Weiss Asset Management LP now owns 571,151 shares of the specialty retailer’s stock worth $16,992,000 after purchasing an additional 546,525 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in ODP by 1.0% in 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 during the period. 99.56% of the stock is currently owned by institutional investors and hedge funds.

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.