ODP (NASDAQ:ODP) Stock

The ODP Corp operates an integrated B2B distribution platform with divisions focusing on various sectors: ODP Business Solutions serves small to enterprise-level companies with office supplies, technology, furniture, and services. Office Depot Division caters to retail consumers and small businesses through retail locations and eCommerce platforms, offering office supplies, technology, and business services. Veyer Division specializes in supply chain, distribution, and procurement services for both internal and third-party customers, with a focus on global operations. Varis Division offers a tech-enabled B2B indirect procurement marketplace, providing a seamless buying experience and advanced spend management tools. Revenue primarily stems from the Veyer division.

The ODP Corp

The ODP Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>) shares are <a href="https://www.benzinga.com/movers" target="_blank" rel="noreferrer noopener">trading lower on Wednesday.</a>
The company reported fourth-quarter adjusted earnings per share of 66 cents, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/02/b43968631/the-odp-corporation-announces-fourth-quarter-and-full-year-2024-results" rel="noreferrer noopener">missing the street view of 80 cents</a>. Quarterly sales of $1.624 billion (down 10% year over year) outpaced the analyst consensus estimate of $1.610 billion.
Lower sales in its consumer division, Office Depot, was primarily due to lower retail and online consumer traffic and lower average order volumes, as well as 47 fewer stores in service compared to last year related to planned store closures.
Fourth quarter 2024 adjusted operating income was $32 million, down compared to $57 million in the fourth quarter of 2023.
&#8220;Our performance in 2024 was impacted by weak macroeconomic trends, subdued business and consumer activity, and effects from severe weather in the second half of the year,&#8221; said CEO Gerry Smith.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/02/43973370/lowes-q4-win-higher-profits-big-buybacks-and-a-cautious-2025-outlook" rel="noreferrer noopener">Lowe&#8217;s Q4 Win: Higher Profits, Big Buybacks And A Cautious 2025 Outlook</a>
ODP Business Solutions Division&#8217;s operating income margin was 3%, down 70 basis points compared to the same period last year, while Office Depot Division&#8217;s operating income margin was 4%, down 100 basis points.
&#8220;Looking ahead to 2025, we plan to prioritize capital allocation toward our core business over share repurchases, focusing on high-return B2B growth opportunities that we believe will drive sustainable, long-term value for our shareholders,&#8221; said Adam Haggard, senior vice president and co-chief financial officer of ODP Corporation.
Adjusted Free Cash Flow&nbsp;was $(57) million in the fourth quarter, compared to $48 million in the prior year period.
The company exited the quarter with cash and equivalents worth $166 million.
Long-term debt (net of current maturities) expanded to $270 million from $165 million in the year-ago period.
ODP Price Action: ODP Corporation shares are trading lower by 21.21% to $15.12 at publication Wednesday.
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Courtesy: ODP Corporation

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ODP Corporation Stock Plunges Over 20%: Q4 Earnings Misses Expectations As Sales Drop

WIIM

ODP shares are trading lower after the company reported worse-than-expected Q4 adjusted EPS results.

Earnings Beats

Earnings Misses

ODP Q4 2024 Adj. EPS $0.66 Misses $0.80 Estimate, Sales $1.624B Beat $1.608B Estimate

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Core Scientific, Inc. - Class A Common Stock

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GSX Techedu Inc. American Depositary Shares

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Earnings Scheduled For February 26, 2025

Shelling out millions of dollars for a Super Bowl commercial can be a risky move. Just ask the 14 companies with dot com in their name how things turned out after being featured in <a href="https://www.benzinga.com/topic/super-bowl">Super Bowl ads </a>in 2000.
What Happened: Super Bowl XXXIV, which featured the St. Louis Rams and Tennessee Titans, will be remembered for many reasons, including being known as the "Dot-Com Super Bowl" due to the large number of companies with dot com in their name shelling out millions on<a href="https://www.benzinga.com/general/sports/25/01/43324031/super-bowl-lix-commercials-hit-record-8-million-how-fox-corporation-can-win-from-nfl-championship"> Super Bowl ads.</a>
Super Bowl commercials for the NFL championship game in 2000 had a cost of around $2.2 million for a 30-second spot. Compare that to the $7 million to $8 million per 30-second spot that Fox Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NASDAQ">FOX</a>)(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FOXA#NASDAQ">FOXA</a>) is getting for this year's big game.
Here is the list of the dot-com companies that ran ads in Super Bowl XXXIV:
<ul>
<li>AutoTrader.com: Still Active</li>
<li>Computer.com: Bought out by Office Depot (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>) in 2000</li>
<li>E1040.com: Defunct</li>
<li>Epidemic.com: Defunct</li>
<li>E-Stamp.com: Defunct</li>
<li>HotJobs.com: Bought by Yahoo! in 2022 and later by Monster.com in 2010</li>
<li>LastMinuteTravel.com: Active, merged with Tourico Holidays in 2004, acquired by Hotelbeds Group in 2017</li>
<li>LifeMinders.com: Bought by Cross Media Group in 2001</li>
<li>Monster.com: Active, bought by Randstad NV in 2016, now majority owned by Apollo Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>)</li>
<li>OnMoney.com: Defunct</li>
<li>Netpliance: Rebranded as Tipping Point in 2002, bought by 3Com in 2005</li>
<li>OurBeginning.com: Bought by undisclosed company in 2002</li>
<li>Pets.com: Defunct, website now redirects to PetSmart's website</li>
<li>WebMD: Active, bought by Internet Brands in 2017</li>
</ul>
Along with the 14 dot-com companies that ran ads, there were also several technology companies that were founded before the dot-com boom that aired ads in this Super Bowl. Those companies are:
<ul>
<li>Britannica: Active</li>
<li>E&#x2A;Trade: Active, bought by Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) in 2020</li>
<li>Electronic Data Systems: Bought by HP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPQ#NYSE">HPQ</a>) in 2008</li>
<li>Kforce: Active</li>
<li>MicroStrategy: Active, changing name to Strategy and trades as MicroStrategy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>)</li>
</ul>
As <a href="https://x.com/darrenrovell/status/1885071827145253163">pointed </a>out by cllct co-founder Darren Rovell, only three of the 14 dot-com companies that advertised in Super Bowl XXXIV still exist under the same name today (Autotrader, Monster, WebMD).
Read Also: <a href="https://www.benzinga.com/general/sports/24/02/37076429/super-bowl-commercials-2024-complete-list-of-super-bowl-lviii-ads-and-companies-behind-them">Super Bowl Commercials 2024: Complete List Of Super Bowl LVIII Ads And Companies Behind Them</a>
Why It's Important: Super Bowl XXXIV was watched by more than 80 million people and many of the dot-com companies that advertised saw big spikes in website traffic.
LastMinuteTravel <a href="https://www.sfgate.com/business/networth/article/dot-com-super-bowl-advertisers-fumble-but-down-2739134.php">saw </a>over 300,000 hits per minute during its Super Bowl ads. OurBeginning.com's revenue was up 350% year-over-year in the first quarter of 2000. For most, the gains in traffic and revenue weren't enough to offset the high marketing costs on the Super Bowl ads.
Super Bowl XXXIV may have been one of the peak moments of the dot-com bubble with Barron's <a href="https://www.benzinga.com/general/education/19/03/11389594/this-day-in-market-history-barrons-calls-1bubble-top">calling the top</a> on March 20, 2000 with a cover story "Burning Up."
The 2001 Super Bowl (XXXV) featured only three dot-com companies as many of the prior year's companies had already gone under or were facing financial struggles. E&#x2A;Trade poked fun at the number of dot-com companies from the prior year during their Super Bowl XXXV ad.
The Dot-Com Super Bowl of 2000 hit the spotlight again in 2022 when a large number of cryptocurrency companies ran Super Bowl ads in Super Bowl LVI,<a href="https://www.benzinga.com/markets/cryptocurrency/22/02/25569962/super-bowl-lvi-becomes-crypto-bowl-with-commercials-ad-campaigns-for-big-game"> prompting the nickname</a> of the "Crypto Bowl."
Among the companies that advertised during Super Bowl LVI was FTX, a cryptocurrency platform that went bankrupt less than a year after its Super Bowl commercial.
Spending millions of dollars on a Super Bowl commercial is not a proven path to success, especially for smaller unproven and unprofitable companies. Food for thought as you watch this year's Super Bowl ads.
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Photo: Shutterstock

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14 Dot-Com Companies Had Super Bowl Commercials In 2000, Here's How Many Still Exist Today

– Base Rent from Our Industrial Portfolio Now Exceeds 72% of All Base Rent –
–&nbsp;Closes on the Sale of Retail and Health &amp; Fitness Properties for $23 Million and Will Realize Over $6.6 Million in Gains&nbsp;–
GREAT NECK, New York, Jan. 22, 2025 (GLOBE NEWSWIRE) -- One Liberty Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLP#NYSE">OLP</a>), a real estate investment trust focused on net leased industrial properties, today announced the completion of the previously announced acquisition of two Class A industrial properties located in the Mobile, Alabama MSA, for $49 million. The two properties comprise an aggregate of 371,586 square feet and are located on approximately 31 acres. There are four tenants—Simpson Manufacturing (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSD#NYSE">SSD</a>), Veyer LLC, a wholly owned subsidiary of The ODP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>), Chadwell Supply, a supplier of materials for the multi-family industry, and DC Safety Sales Co., Inc, a supplier of safety equipment to various industries, including the automotive industry. The aggregate annual base rent is approximately $3.1 million, with approximate annual rental increases ranging from 2.3% to 3.5%, and a weighted average remaining lease term approaching seven years. OLP financed the acquisition with cash and a ten-year $29 million mortgage (interest only for five years and then amortizing on a 30-year schedule) bearing an interest rate of 6.12%.

One Liberty Properties Announces $49M Acquisition Of Two Industrial Properties In Alabama; Sells Retail And Health & Fitness Properties For $23M, Gains $6.6M; Base Rent From Industrial Portfolio Now Exceeds 72%

Management

On December 12, 2024, ODP Announces Appointment Of Max Hood, And Adam Haggard, To Each Serve As Co-CFOs And Co-Principal Financial Officers - Filing

UBS analyst Michael Lasser maintains ODP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>) with a Neutral and lowers the price target from $30 to $28.

Price Target

Analyst Ratings

UBS Maintains Neutral on ODP, Lowers Price Target to $28

<h3>Gainers</h3>
<ul>
<li>Revolve Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RVLV#NYSE">RVLV</a>) stock increased by 24.8% to $32.46 during Wednesday's regular session. The company's market cap stands at $2.2 billion. The company's, Q3 earnings came out yesterday. </li>
<li>MasterCraft Boat Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCFT#NASDAQ">MCFT</a>) stock rose 23.59% to $21.79. The company's market cap stands at $361.9 million. As per the news, the Q1 earnings report came out today. </li>
<li>Super Group (SGHC) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGHC#NYSE">SGHC</a>) shares rose 16.34% to $4.88. The market value of their outstanding shares is at $2.4 billion. The company's, Q3 earnings came out today. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>iRobot (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRBT#NASDAQ">IRBT</a>) stock declined by 33.2% to $6.96 during Wednesday's regular session. The company's market cap stands at $200.0 million. As per the press release, Q3 earnings came out today. </li>
<li>ODP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>) stock declined by 15.21% to $26.38. The market value of their outstanding shares is at $885.8 million. As per the press release, Q3 earnings came out today. </li>
<li>Wayfair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/W#NYSE">W</a>) stock decreased by 14.31% to $37.99. The company's market cap stands at $4.6 billion. As per the news, the Q3 earnings report came out 3 days ago. </li>
<li>Rent the Runway (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RENT#NASDAQ">RENT</a>) shares decreased by 13.54% to $9.58. The company's market cap stands at $35.6 million. </li>
<li>Cricut (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRCT#NASDAQ">CRCT</a>) stock declined by 13.17% to $5.71. The company's market cap stands at $1.2 billion. As per the news, the Q3 earnings report came out yesterday. </li>
<li>Jiade (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JDZG#NASDAQ">JDZG</a>) stock declined by 12.31% to $0.78. The company's market cap stands at $19.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-consumer-cyclical-stocks/" title="www.benzinga.com/money/best-consumer-cyclical-stocks/">www.benzinga.com/money/best-consumer-cyclical-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

CRCT

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RVLV

SGHC

9 Consumer Discretionary Stocks Moving In Wednesday's Intraday Session

The ODP Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>) shares <a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">are trading lower on Wednesday.</a>
The company reported third-quarter adjusted earnings per share of 71 cents, <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41769448/the-odp-corporation-announces-third-quarter-2024-results" rel="noreferrer noopener">missing the street view of $1.60.</a>
Quarterly sales of $1.780 billion, down 11% year-over-year, missed the analyst consensus of $1.820 billion.
The decrease in reported sales is largely related to lower sales in its Office Depot Division, primarily due to 53 fewer retail locations in service compared to the previous year and reduced transactions, as well as lower sales in its ODP Business Solutions Division.
&#8220;We&#8217;re leveraging our differentiated core strengths to pivot towards higher growth B2B opportunities, and we are beginning to see promising traction at both our ODP Business Solutions and Veyer Divisions,&#8221; said Gerry Smith, chief executive officer.&nbsp;
Also Read: <a target="_blank" href="https://www.benzinga.com/news/large-cap/24/11/41774549/trumps-big-tech-policies-what-gop-victory-means-for-apple-google-microsoft" rel="noreferrer noopener">Trump&#8217;s Big Tech Policies: What GOP Victory Means For Apple, Google, Microsoft</a>
In the quarter under review, adjusted EBITDA was $62 million, compared to $138 million in the year-ago period.
As of September 28, ODP had total available liquidity of approximately $728 million, consisting of $192 million in cash and equivalents.
In a separate press release, the company announced a partnership with a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b41769797/the-odp-corporation-embarks-on-a-new-10-year-1-5b-transformative-partnership-with-nationally-recog" rel="noreferrer noopener">nationally recognized strategic reseller</a>. This partnership, worth up to $1.5 billion spanning a 10-year period, will leverage the reseller provider&#8217;s expertise in creating custom, results-driven e-commerce solutions and the company&#8217;s extensive fulfillment centers and delivery network.
Outlook: ODP has <a target="_blank" href="https://www.theodpcorp.com/news-releases/news-release-details/odp-corporation-announces-second-quarter-2024-results" rel="noreferrer noopener">lowered </a>its full-year 2024 adjusted EPS guidance from a range of $4.25 &#8211; $5.00 to $3.10 &#8211; $3.80, below the $4.27 analyst estimate.
The company expects sales to be approximately $7 billion (prior view: at least $7 billion), compared to the $7.09 billion estimate.
Price Action: ODP shares are trading lower by 15.2% to $26.37 at last check Wednesday.
Photo via <a href="https://commons.wikimedia.org/wiki/File:Office_Depot_%284190699897%29.jpg">Wikimedia Commons</a>
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Office Depot's Parent Company ODP Slashes 2024 Outlook After Weak Q3 Earnings, Eyes B2B Pivot To Offset Retail Woes

ODP shares are trading lower after the company reported worse-than-expected Q3 financial results and lowered FY24 outlook.

The ODP Corporation today announced a partnership with a large, growing strategic reseller organization, offering quality office, furniture, print, promotional and facility resource solutions to large multi-site companies. This partnership, worth up to $1.5 billion spanning a 10-year period, will leverage the reseller provider's expertise in creating custom, results-driven e-commerce solutions and the Company's extensive fulfillment centers and delivery network.
"This collaboration enables a leader in reseller services to leverage our comprehensive product and service offerings, national distribution and award-winning e-commerce platform to service their customers," said David Centrella, EVP of The ODP Corporation and President of ODP Business Solutions. "This partnership reflects our commitment to providing solutions that address unique business needs."

ODP Announced 10-Year $1.5B Partnership With Nationally Recognized Strategic Reseller Organization Offering Quality Office, Furniture,

This partnership will leverage the reseller provider's expertise in creating custom, results-driven e-commerce solutions and the Company's extensive fulfillment centers and delivery network.

Contracts

ODP Enters New 10-Year, $1.5B Partnership With A Strategic Reseller Organization

The Company is amending its 2024 full-year guidance as follows:
Updated full-year guidance for 2024
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Updated FY 2024 Guidance(1)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Sales</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Approximately $7 billion</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted EBITDA(1)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$260 million - $300 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted Operating Income(1)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$160 million - $200 million</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted Earnings per Share (fully diluted)(&#x2A;)(1)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">$3.10 - $3.80 per share</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Adjusted Free Cash Flow(1)(3)</td>
<td colspan="1" rowspan="1">&nbsp;</td>
<td colspan="1" rowspan="1">Suspends</td>
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</tbody>
</table>
</figure>

ODP Lowers FY24 Adj EPS Guidance from $4.25-$5.00 to $3.10-$3.80 vs $4.27 Est; Sees Sales $7.000B vs $7.09B Est

ODP (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>) reported quarterly earnings of $0.71 per share which missed the analyst consensus estimate of $1.60 by 55.63 percent. This is a 67.28 percent decrease over earnings of $2.17 per share from the same period last year. The company reported quarterly sales of $1.780 which missed the analyst consensus estimate of $1.820 billion by 100.00 percent. This is a 100.00 percent decrease over sales of $2.009 billion the same period last year.

ODP Q3 2024 Adj. EPS $0.71 Misses $1.60 Estimate, Sales $1.780 Miss $1.820B Estimate

The most recent trading session ended with ODP Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/odp#NYSE">ODP</a>) standing at $28.75, reflecting a +0.49% shift from the previouse trading day&#39;s closing. The stock outpaced the S&amp;P 500&#39;s daily gain of 0.4%. Elsewhere, the Dow saw an upswing of 0.62%, while the tech-heavy Nasdaq appreciated by 0.6%.
Heading into today, shares of the office supply retailer had lost 3.86% over the past month, lagging the Retail-Wholesale sector&#39;s gain of 5.71% and the S&amp;P 500&#39;s gain of 1.71% in that time.
Investors will be eagerly watching for the performance of ODP Corp. in its upcoming earnings disclosure. In that report, analysts expect ODP Corp. to post earnings of $1.49 per share. This would mark a year-over-year decline of 20.74%. Meanwhile, our latest consensus estimate is calling for revenue of $1.83 billion, down 9.13% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.29 per share and a revenue of $7.13 billion, demonstrating changes of -23.39% and -8.96%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for ODP Corp. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company&#39;s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we&#39;ve crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, ODP Corp. is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, ODP Corp. is currently trading at a Forward P/E ratio of 6.68. This expresses a discount compared to the average Forward P/E of 14.34 of its industry.
Also, we should mention that ODP has a PEG ratio of 0.48. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company&#39;s expected earnings growth rate. By the end of yesterday&#39;s trading, the Retail - Miscellaneous industry had an average PEG ratio of 2.3.
The Retail - Miscellaneous industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 167, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
<a href="https://www.zacks.com/stock/news/2342266/odp-corp-odp-laps-the-stock-market-here-s-why?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_6v1-2342266">To read this article on Zacks.com click here.</a>

Retail Sales

Small Cap

Trading Ideas

ODP Corp. Laps the Stock Market: Here's Why

New Coffee and Breakroom Solutions Include Coffeehouse-Quality Commercial Machines
ODP Business Solutions, a leading supplier of workplace solutions and services, now offers Nespresso Professional product line. This line consists of versatile coffee makers and accessories specifically designed for small to large businesses and commercial spaces.

ODP Business Solutions Expands Portfolio With Addition Of Nespresso Professional Product Line

BOOT

CHWY

Shares of retail companies are trading higher following a rise in retail sales data. Also, the sector may be moving higher in sympathy with Walmart after the company reported better-than-expected Q2 financial results and an increase in FY25 adjusted EPS guidance.

The ODP Corporation CFO D. Anthony Scaglione To Step Down After Sept. 13

The most oversold stocks in the consumer discretionary sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 3</a>0, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">ODP Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODP#NASDAQ">ODP</a>)</h3>
<ul>
<li>On Aug. 7, ODP reported worse-than-expected second-quarter financial results and cut its FY24 guidance. "While we are pacing below our prior expectations for the year, we are not standing still. We're taking actions to improve our top-line trajectory and we remain focused on capturing the long-term opportunities derived by our strong value proposition, solid balance sheet, and flexible foundation," said Gerry Smith, chief executive officer of ODP. The company's stock fell around 33% over the past five days and has a <a href="https://www.benzinga.com/quote/ODP">52-week low of $23.69</a>.</li>
<li>RSI Value: 21.13</li>
<li>ODP Price Action: Shares of ODP fell 2.5% to close at $25.52 on Friday.</li>
<li>Benzinga Pro's real-time newsfeed alerted to l<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">atest ODP news.</a> </li>
</ul>
<figure class="wp-block-image is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img decoding="async" src="blob:https://editorial.benzinga.com/5f259a12-f9c3-4fec-abc4-9a6912ebc289" alt="" style="width:561px;height:auto" /></a></figure>
<h3 class="wp-block-heading">Goodyear Tire &amp; Rubber Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On July 31, Goodyear Tire &amp; Rubber reported mixed quarterly financial results. &#8220;We demonstrated clear progress on our Goodyear Forward plan in the second quarter, achieving significant margin expansion and securing a definitive agreement to sell our Off-the-Road business,&#8221; said Chief Executive Officer and President Mark Stewart. The company's stock fell around 32% over the past month. It <a href="https://www.benzinga.com/quote/GT">has a 52-week </a>low of $7.63.</li>
<li>RSI Value: 22.49</li>
<li>GT Price Action: Shares of Goodyear Tire fell 2.7% to close at $7.70 on Friday.</li>
<li>Benzinga Pro&#8217;s charting tool helped <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">identify the trend in GT stock. </a></li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="905" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76.png" alt="" class="wp-image-489633" style="width:493px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76.png 905w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76-300x276.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083054/image-76-768x706.png 768w" sizes="(max-width: 905px) 100vw, 905px" /></a></figure>
<h3 class="wp-block-heading">Dutch Bros Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BROS#NYSE">BROS</a>)</h3>
<ul>
<li>On Aug. 7, Dutch Bros reported quarterly earnings of 19 cents per share which beat the analyst consensus estimate of 13 cents by 46.15%. "Our quarterly performance demonstrates the long runway ahead for Dutch Bros as we once again delivered strong top-line and profitability growth. Revenue rose 30%, including a 4.1% increase in system same-shop sales, and was underpinned by excellent margin flow through. With strong results 2024 to date despite the volatile consumer backdrop and expectations for a robust second half to the year, we are pleased to be raising our annual guidance," said Christine Barone, CEO of Dutch Bros. The company's shares fell around 28% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/BROS">low of $22.66</a>.</li>
<li>RSI Value: 25.27</li>
<li>BROS Price Action: Shares of Dutch Bros fell 2.4% to close at $29.49 on Friday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1">breakout in BROS shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent081224&amp;t=be2bearmibe3na1"><img loading="lazy" decoding="async" width="880" height="832" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77.png" alt="" class="wp-image-489637" style="width:528px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77.png 880w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77-300x284.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/08/12083218/image-77-768x726.png 768w" sizes="(max-width: 880px) 100vw, 880px" /></a></figure>
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