ODP (NASDAQ:ODP) Sees Unusually-High Trading Volume – Should You Buy?

The ODP Corporation (NASDAQ:ODP) saw unusually-high trading volume on Thursday . Approximately 798,301 shares changed hands during mid-day trading, an increase of 10% from the previous session’s volume of 726,344 shares.The stock last traded at $27.9750 and had previously closed at $27.97.

Analysts Set New Price Targets

ODP has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ODP in a report on Monday. Noble Financial downgraded shares of ODP from a “strong-buy” rating to a “market perform” rating in a research note on Tuesday, September 23rd. Finally, UBS Group raised their price objective on ODP from $19.00 to $28.00 and gave the company a “neutral” rating in a research report 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 company has an average rating of “Reduce” and an average target price of $28.00.

ODP Trading Up 0.0%

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.45 and a current ratio of 0.91. The stock has a fifty day moving average price of $27.85 and a 200 day moving average price of $22.26. The stock has a market cap of $842.76 million, a PE ratio of -79.94, a PEG ratio of 0.62 and a beta of 1.15.

ODP (NASDAQ:ODP) last issued its earnings results on Wednesday, November 5th. The specialty retailer reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.32. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.67 billion. ODP had a negative net margin of 0.14% and a positive return on equity of 12.84%. The business’s revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.75 earnings per share. Equities analysts expect that The ODP Corporation will post 3.26 EPS for the current year.

Institutional Trading of ODP

Several large investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of ODP by 1.1% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 85,874 shares of the specialty retailer’s stock worth $2,392,000 after purchasing an additional 897 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in ODP by 35.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,611 shares of the specialty retailer’s stock valued at $65,000 after buying an additional 954 shares during the last quarter. CWM LLC increased its position in ODP by 13.9% during the third quarter. CWM LLC now owns 8,561 shares of the specialty retailer’s stock worth $238,000 after buying an additional 1,042 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of ODP by 5.1% in the second quarter. SummerHaven Investment Management LLC now owns 22,433 shares of the specialty retailer’s stock worth $407,000 after acquiring an additional 1,088 shares during the last quarter. Finally, State of Alaska Department of Revenue purchased a new stake in shares of ODP in the third quarter valued at $31,000. 99.56% of the stock is owned by hedge funds and other 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.