ODP (NASDAQ:ODP) Trading Down 6.4% - What's Next?

Key Points

• ODP Corporation's share price fell by 6.4% on Monday, closing at $18.16 after trading as low as $18.42, with a significant drop in trading volume of 77% from its average.
• Analysts have mixed opinions on ODP, with UBS Group raising its price target from $17.00 to $19.00 while Wall Street Zen downgraded the rating from "buy" to "hold."
• Despite beating earnings estimates with $0.51 EPS for the last quarter, ODP's revenue decreased by 7.6% compared to the previous year.

The ODP Corporation (NASDAQ:ODP - Get Free Report)'s stock price dropped 6.4% during mid-day trading on Monday . The company traded as low as $18.42 and last traded at $18.16. Approximately 137,864 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 610,728 shares. The stock had previously closed at $19.41.

Wall Street Analysts Forecast Growth

ODP has been the topic of a number of analyst reports. UBS Group lifted their price target on ODP from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Wall Street Zen cut ODP from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd.

ODP Price Performance

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 cap of $625.06 million, a price-to-earnings ratio of 31.49, a PEG ratio of 0.50 and a beta of 1.38. The stock has a 50-day moving average price of $18.24 and a two-hundred day moving average price of $16.95.

ODP (NASDAQ:ODP - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.59 billion. ODP had a return on equity of 11.22% and a net margin of 0.39%. The business's quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities research analysts forecast that The ODP Corporation will post 3.26 EPS for the current year.

Institutional Trading of ODP

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in ODP by 265,600.0% during the 1st quarter. Farther Finance Advisors LLC now owns 2,657 shares of the specialty retailer's stock valued at $37,000 after acquiring an additional 2,656 shares during the period. AlphaQuest LLC acquired a new position in shares of ODP in the 1st quarter valued at about $41,000. Headlands Technologies LLC acquired a new position in shares of ODP in the 1st quarter valued at about $47,000. Parallel Advisors LLC lifted its holdings in shares of ODP by 3,033.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,820 shares of the specialty retailer's stock valued at $51,000 after buying an additional 2,730 shares during the period. Finally, State of Wyoming lifted its holdings in shares of ODP by 232.5% in the 1st quarter. State of Wyoming now owns 5,859 shares of the specialty retailer's stock valued at $84,000 after buying an additional 4,097 shares during the period. Hedge funds and other 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.