ODP (NASDAQ:ODP) Shares Cross Above 200 Day Moving Average – Time to Sell?

The ODP Corporation (NASDAQ:ODP)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.42 and traded as high as $28.00. ODP shares last traded at $28.00, with a volume of 2,108,600 shares.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ODP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of ODP in a report on Monday, December 8th. UBS Group raised their price target on shares of ODP from $19.00 to $28.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Noble Financial lowered shares of ODP from a “strong-buy” rating to a “market perform” rating in a report on Tuesday, September 23rd. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $28.00.

ODP Price Performance

The company has a current ratio of 0.91, a quick ratio of 0.45 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $27.96 and its two-hundred day simple moving average is $24.42. The firm has a market cap of $843.30 million, a price-to-earnings ratio of -80.00, a P/E/G ratio of 0.62 and a beta of 1.15.

ODP (NASDAQ:ODP) last posted 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 negative net margin of 0.14% and a positive return on equity of 12.84%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same period in the prior year, the firm posted $1.75 EPS. The company’s quarterly revenue was down 8.7% on a year-over-year basis. As a group, research analysts expect that The ODP Corporation will post 3.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH boosted 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 valued at $2,392,000 after purchasing an additional 897 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in ODP by 35.9% in the second 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 period. CWM LLC boosted its holdings in shares of ODP by 13.9% during the 3rd 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 grew its position in shares of ODP by 5.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 22,433 shares of the specialty retailer’s stock worth $407,000 after buying an additional 1,088 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of ODP in the 3rd quarter valued at $31,000. 99.56% of the stock is owned by institutional investors.

ODP Company Profile

Office Depot, Inc (NASDAQ: ODP) is a leading provider of office products, services and solutions designed to help individuals and businesses improve productivity and efficiency. Headquartered in Boca Raton, Florida, Office Depot operates a network of retail stores under the Office Depot and OfficeMax brands alongside a comprehensive e-commerce platform. The company caters to a diverse customer base that includes home offices, small- and medium-sized businesses, large enterprises, educational institutions and government agencies.

Through its retail and online channels, Office Depot offers a broad portfolio of office essentials such as paper, writing instruments, filing supplies and ink and toner, as well as technology products including computers, tablets, networking equipment and related accessories.