ODP (NASDAQ:ODP) Trading 7.1% Higher – Should You Buy?

The ODP Co. (NASDAQ:ODP) traded up 7.1% on Monday . The company traded as high as $23.91 and last traded at $24.10. 204,659 shares were traded during mid-day trading, a decline of 48% from the average session volume of 391,869 shares. The stock had previously closed at $22.49.

Analysts Set New Price Targets

ODP has been the topic of several analyst reports. StockNews.com raised shares of ODP from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. UBS Group cut their target price 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.

ODP Trading Up 7.3 %

The firm has a market capitalization of $727.10 million, a price-to-earnings ratio of -26.68, a price-to-earnings-growth ratio of 0.38 and a beta of 1.40. The company has a fifty day moving average price of $24.81 and a 200-day moving average price of $29.18. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.28.

ODP (NASDAQ:ODP) last posted its quarterly earnings data on Wednesday, November 6th. The specialty retailer reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.89). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.82 billion. ODP had a positive return on equity of 12.15% and a negative net margin of 0.52%. The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.88 EPS. On average, equities research analysts predict that The ODP Co. will post 3.26 EPS for the current year.

Hedge Funds Weigh In On ODP

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP increased its holdings in ODP by 170.3% in the 2nd quarter. Quarry LP now owns 1,092 shares of the specialty retailer’s stock worth $43,000 after purchasing an additional 688 shares in the last quarter. KBC Group NV increased its holdings in shares of ODP by 88.9% during the third quarter. KBC Group NV now owns 1,844 shares of the specialty retailer’s stock valued at $55,000 after acquiring an additional 868 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ODP by 380.1% during the fourth quarter. GAMMA Investing LLC now owns 3,879 shares of the specialty retailer’s stock valued at $88,000 after purchasing an additional 3,071 shares in the last quarter. SG Americas Securities LLC bought a new position in ODP in the 3rd quarter valued at $104,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in ODP by 13.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,016 shares of the specialty retailer’s stock worth $268,000 after purchasing an additional 1,049 shares in the last quarter. 99.56% of the stock is currently owned by institutional investors and hedge funds.

About ODP

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.