ODP (NASDAQ:ODP) Sets New 12-Month Low – Here’s Why

The ODP Co. (NASDAQ:ODP) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $19.41 and last traded at $19.63, with a volume of 89397 shares trading hands. The stock had previously closed at $20.18.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ODP. UBS Group dropped their price target on shares of ODP from $30.00 to $28.00 and set a “neutral” rating for the company in a research note on Thursday, November 7th. StockNews.com downgraded ODP from a “buy” rating to a “hold” rating in a report on Friday, January 31st.

ODP Price Performance

The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28. The business’s 50-day simple moving average is $22.75 and its two-hundred day simple moving average is $26.69. The firm has a market cap of $544.27 million, a price-to-earnings ratio of -19.86, a P/E/G ratio of 0.32 and a beta of 1.38.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Mackenzie Financial Corp acquired a new stake in ODP during the fourth quarter worth approximately $314,000. Toronto Dominion Bank acquired a new stake in shares of ODP during the 4th quarter worth approximately $7,149,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ODP by 29.3% in 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 acquiring an additional 24,198 shares in the last quarter. Vident Advisory LLC increased its stake in shares of ODP by 27.8% in the 4th quarter. Vident Advisory LLC now owns 20,915 shares of the specialty retailer’s stock valued at $476,000 after acquiring an additional 4,548 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of ODP by 81.8% during the 4th quarter. Two Sigma Advisers LP now owns 12,444 shares of the specialty retailer’s stock valued at $283,000 after acquiring an additional 5,600 shares during the period. 99.56% of the stock is owned by institutional investors.

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.