ODP (NASDAQ:ODP) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• The ODP Corporation's share price recently surpassed its 200-day moving average, trading at $27.79, which is significantly higher than the average of $18.84.
• Analyst ratings for ODP have fluctuated, with Wall Street Zen downgrading it from "buy" to "hold" and UBS Group raising its target price to $19.00.
• Despite a reported earnings per share of $0.51 for the last quarter, ODP experienced a 7.6% year-over-year decline in revenue, signaling potential concerns among investors.

The ODP Corporation (NASDAQ:ODP - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.84 and traded as high as $27.94. ODP shares last traded at $27.79, with a volume of 914,750 shares traded.

Analyst Ratings Changes

A number of research firms recently commented on ODP. Wall Street Zen downgraded ODP from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Noble Financial downgraded shares of ODP from a "strong-buy" rating to a "market perform" rating in a research note on Tuesday, September 23rd. UBS Group raised their target price on ODP from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of ODP in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $19.00.

ODP Trading Down 0.6%

The company has a current ratio of 0.94, a quick ratio of 0.45 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $835.92 million, a P/E ratio of 42.11, a P/E/G ratio of 0.69 and a beta of 1.41. The business has a 50-day moving average price of $23.41 and a two-hundred day moving average price of $18.84.

ODP (NASDAQ:ODP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The specialty retailer reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.18. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.59 billion. ODP had a return on equity of 11.22% and a net margin of 0.39%.ODP's revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 EPS. On average, analysts expect that The ODP Corporation will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC lifted its holdings in ODP by 265,600.0% during the first quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock worth $37,000 after acquiring an additional 2,656 shares during the period. Parallel Advisors LLC increased its position in ODP by 3,033.3% in the second quarter. Parallel Advisors LLC now owns 2,820 shares of the specialty retailer's stock worth $51,000 after buying an additional 2,730 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of ODP in the first quarter valued at $41,000. Headlands Technologies LLC purchased a new position in ODP during the first quarter worth about $47,000. Finally, State of Wyoming grew its position in ODP by 232.5% during the first quarter. State of Wyoming now owns 5,859 shares of the specialty retailer's stock worth $84,000 after buying an additional 4,097 shares in the last quarter. Institutional investors own 99.56% of the company's stock.

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.

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