ODP (NASDAQ:ODP) Stock Price Down 5.6% - Time to Sell?

Key Points

• The ODP Corporation's stock price dropped **5.6%** during mid-day trading, closing at **$20.13**, with trading volume significantly lower than average.
• Wall Street analysts have downgraded ODP's stock rating from **"buy" to "hold,"** with a consensus price target of **$19.00**.
• Despite reporting **$0.51 EPS** for the quarter, ODP's revenue declined by **7.6%** compared to the same quarter last year, indicating potential struggles for the company moving forward.

The ODP Corporation (NASDAQ:ODP - Get Free Report)'s share price fell 5.6% during mid-day trading on Monday . The company traded as low as $20.31 and last traded at $20.13. 63,525 shares changed hands during trading, a decline of 89% from the average session volume of 599,096 shares. The stock had previously closed at $21.33.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ODP. Wall Street Zen downgraded shares of ODP from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. UBS Group increased their price objective on shares of ODP from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, ODP has a consensus rating of "Hold" and an average price target of $19.00.

ODP Price Performance

The stock has a market cap of $613.99 million, a P/E ratio of 30.91, a PEG ratio of 0.53 and a beta of 1.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.94 and a quick ratio of 0.45. The business's fifty day moving average price is $18.57 and its 200 day moving average price is $16.81.

ODP (NASDAQ:ODP - Get Free Report) last posted its earnings results on Wednesday, August 6th. The specialty retailer reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.18. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. ODP had a net margin of 0.39% and a return on equity of 11.22%. The business's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. Sell-side analysts forecast that The ODP Corporation will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ODP. Wells Fargo & Company MN raised its holdings in ODP by 16.2% in the 4th quarter. Wells Fargo & Company MN now owns 19,539 shares of the specialty retailer's stock valued at $444,000 after buying an additional 2,717 shares during the last quarter. Barclays PLC raised its holdings in ODP by 119.5% in the 4th quarter. Barclays PLC now owns 218,752 shares of the specialty retailer's stock valued at $4,974,000 after buying an additional 119,081 shares during the last quarter. MetLife Investment Management LLC raised its holdings in ODP by 4.8% in the 4th quarter. MetLife Investment Management LLC now owns 21,601 shares of the specialty retailer's stock valued at $491,000 after buying an additional 994 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in ODP by 38.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,324 shares of the specialty retailer's stock valued at $98,000 after buying an additional 1,198 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in ODP by 13.0% in the 4th quarter. Northern Trust Corp now owns 600,027 shares of the specialty retailer's stock valued at $13,645,000 after buying an additional 69,198 shares during the last quarter. Institutional investors own 99.56% of the company's stock.

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.

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