ODP (NASDAQ:ODP) Reaches New 12-Month Low at $38.77

The ODP Co. (NASDAQ:ODPGet Free Report)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $38.77 and last traded at $38.94, with a volume of 14734 shares changing hands. The stock had previously closed at $39.24.

Analysts Set New Price Targets

A number of analysts recently commented on ODP shares. TheStreet cut ODP from a “b-” rating to a “c+” rating in a research report on Wednesday, February 28th. StockNews.com upgraded ODP from a “hold” rating to a “buy” rating in a research report on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, ODP currently has an average rating of “Moderate Buy” and an average target price of $62.00.

Read Our Latest Stock Analysis on ODP

ODP Stock Down 1.4 %

The company has a fifty day simple moving average of $48.11 and a 200-day simple moving average of $50.26. The company has a quick ratio of 0.49, a current ratio of 0.94 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.39 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 0.44 and a beta of 1.68.

ODP (NASDAQ:ODPGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The specialty retailer reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.59). ODP had a net margin of 1.08% and a return on equity of 16.67%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the firm posted $1.78 EPS. The business’s revenue for the quarter was down 11.2% on a year-over-year basis. On average, equities analysts anticipate that The ODP Co. will post 6.4 earnings per share for the current year.

ODP declared that its board has authorized a share repurchase program on Wednesday, February 28th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the specialty retailer to reacquire up to 48.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at ODP

In other news, CFO Diego Anthony Scaglione sold 25,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $55.00, for a total value of $1,375,000.00. Following the completion of the transaction, the chief financial officer now owns 96,104 shares of the company’s stock, valued at $5,285,720. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On ODP

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in ODP by 0.4% during the first quarter. Vanguard Group Inc. now owns 3,982,531 shares of the specialty retailer’s stock valued at $211,273,000 after buying an additional 16,584 shares during the last quarter. Greenlight Capital Inc. boosted its stake in ODP by 8.3% during the fourth quarter. Greenlight Capital Inc. now owns 1,748,100 shares of the specialty retailer’s stock valued at $98,418,000 after buying an additional 133,750 shares during the last quarter. Pacer Advisors Inc. boosted its stake in ODP by 49.9% during the fourth quarter. Pacer Advisors Inc. now owns 1,481,692 shares of the specialty retailer’s stock valued at $83,419,000 after buying an additional 493,233 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in ODP by 15.7% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,207,623 shares of the specialty retailer’s stock valued at $67,989,000 after buying an additional 164,020 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in ODP by 11.7% during the third quarter. American Century Companies Inc. now owns 524,628 shares of the specialty retailer’s stock valued at $24,212,000 after buying an additional 54,836 shares during the last quarter. 99.56% of the stock is owned by institutional investors.

ODP Company Profile

(Get Free Report)

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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