ODP (NASDAQ:ODP) Trading Down 4.4% – Time to Sell?

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group decreased their price objective 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 upgraded ODP from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th.

ODP Price Performance

The firm has a 50 day moving average price of $27.93 and a 200 day moving average price of $32.02. The stock has a market cap of $733.98 million, a P/E ratio of -26.78, a P/E/G 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) last posted its quarterly earnings results 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 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%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.88 earnings per share. On average, analysts forecast that The ODP Co. will post 3.26 EPS for the current fiscal year.

Hedge Funds Weigh In On ODP

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP raised its holdings in ODP by 170.3% during the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock valued at $43,000 after buying an additional 688 shares during the period. KBC Group NV raised its stake in shares of ODP by 88.9% in the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 868 shares during the period. Innealta Capital LLC bought a new stake in shares of ODP in the 2nd quarter worth about $68,000. SG Americas Securities LLC purchased a new position in shares of ODP during the 3rd quarter worth about $104,000. Finally, Picton Mahoney Asset Management bought a new position in ODP during the 2nd quarter valued at about $164,000. 99.56% of the stock is owned by hedge funds and other 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.