ODP (NASDAQ:ODP) Sees Large Volume Increase – What’s Next?

The ODP Corporation (NASDAQ:ODP) shares saw strong trading volume on Tuesday . 550,478 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 710,146 shares.The stock last traded at $27.8550 and had previously closed at $27.85.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ODP in a research note on Wednesday. Noble Financial downgraded ODP from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, September 23rd. Finally, UBS Group raised their target price on ODP from $19.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $28.00.

ODP Stock Down 0.1%

The company has a quick ratio of 0.45, a current ratio of 0.94 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $839.09 million, a price-to-earnings ratio of 42.21, a price-to-earnings-growth ratio of 0.69 and a beta of 1.43. The firm has a 50-day moving average of $27.03 and a two-hundred day moving average of $21.39.

ODP (NASDAQ:ODP) last announced its quarterly earnings data on Wednesday, November 5th. The specialty retailer reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.32. ODP had a net margin of 0.39% and a return on equity of 11.22%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.67 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The firm’s revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that The ODP Corporation will post 3.26 earnings per share for the current year.

Institutional Trading of ODP

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Neuberger Berman Group LLC grew its stake in shares of ODP by 2.1% in the first quarter. Neuberger Berman Group LLC now owns 931,156 shares of the specialty retailer’s stock worth $13,358,000 after acquiring an additional 19,552 shares during the last quarter. State of Wyoming lifted its stake in shares of ODP by 232.5% in the first 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. Corton Capital Inc. acquired a new stake in ODP during the second quarter worth about $264,000. American Century Companies Inc. raised its holdings in ODP by 1.5% in the 1st quarter. American Century Companies Inc. now owns 1,028,782 shares of the specialty retailer’s stock valued at $14,742,000 after acquiring an additional 15,560 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of ODP in the 2nd quarter worth approximately $242,000. Institutional investors and hedge funds own 99.56% of the company’s stock.

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.