ODP (NASDAQ:ODP) Reaches New 1-Year Low After Earnings Miss

Shares of The ODP Co. (NASDAQ:ODP) reached a new 52-week low during mid-day trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $13.44 and last traded at $15.02, with a volume of 1685401 shares. The stock had previously closed at $19.19.

The specialty retailer reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.14). The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.61 billion. ODP had a negative net margin of 0.52% and a positive return on equity of 12.15%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ODP. UBS Group reduced their target price on ODP from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, November 7th. StockNews.com cut ODP from a “buy” rating to a “hold” rating in a report on Friday, January 31st.

Hedge Funds Weigh In On ODP

Several institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp bought a new position in shares of ODP during the 4th quarter valued at about $314,000. Toronto Dominion Bank bought a new position in shares of ODP during the 4th quarter valued at about $7,149,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ODP by 29.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 106,804 shares of the specialty retailer’s stock valued at $2,429,000 after purchasing an additional 24,198 shares in the last quarter. Vident Advisory LLC lifted its holdings in shares of ODP by 27.8% during the 4th quarter. Vident Advisory LLC now owns 20,915 shares of the specialty retailer’s stock valued at $476,000 after purchasing an additional 4,548 shares in the last quarter. Finally, Two Sigma Advisers LP raised its position in ODP by 81.8% in the 4th quarter. Two Sigma Advisers LP now owns 12,444 shares of the specialty retailer’s stock valued at $283,000 after buying an additional 5,600 shares during the last quarter. Institutional investors own 99.56% of the company’s stock.

ODP Stock Performance

The stock has a 50-day moving average of $21.86 and a 200-day moving average of $26.23. The firm has a market cap of $460.20 million, a price-to-earnings ratio of -16.79, a price-to-earnings-growth ratio of 0.30 and a beta of 1.38. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.47 and a current ratio of 0.92.

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.