ODP (NASDAQ:ODP) Stock Price Down 5.6% - What's Next?

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) dropped 5.6% during trading on Monday . The stock traded as low as $20.31 and last traded at $20.13. Approximately 63,525 shares traded hands during trading, a decline of 89% from the average daily volume of 599,096 shares. The stock had previously closed at $21.33.

Wall Street Analysts Forecast Growth

ODP has been the subject of several recent research reports. Wall Street Zen cut ODP from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. UBS Group upped their price objective on ODP from $17.00 to $19.00 and gave the company 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, the stock currently has an average rating of "Hold" and a consensus target price of $19.00.

ODP Stock Performance

The company has a market cap of $609.50 million, a P/E ratio of 30.70, a price-to-earnings-growth ratio of 0.51 and a beta of 1.38. The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $18.96 and a two-hundred day moving average price of $16.87.

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

Institutional Investors Weigh In On ODP

Large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in ODP by 169.0% during the first quarter. GAMMA Investing LLC now owns 10,436 shares of the specialty retailer's stock worth $150,000 after buying an additional 6,557 shares in the last quarter. Yousif Capital Management LLC grew its position in ODP by 7.8% during the first quarter. Yousif Capital Management LLC now owns 15,228 shares of the specialty retailer's stock worth $218,000 after buying an additional 1,101 shares in the last quarter. Neuberger Berman Group LLC grew its position in ODP by 2.1% during the first quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer's stock worth $13,358,000 after buying an additional 19,552 shares in the last quarter. New York State Teachers Retirement System grew its position in ODP by 5.7% during the first quarter. New York State Teachers Retirement System now owns 45,112 shares of the specialty retailer's stock worth $646,000 after buying an additional 2,446 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in ODP by 34.9% during the fourth quarter. ProShare Advisors LLC now owns 9,799 shares of the specialty retailer's stock worth $223,000 after buying an additional 2,536 shares in the last quarter. Institutional investors and hedge funds 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.