Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 52-Week Low After Analyst Downgrade

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares hit a new 52-week low on Wednesday after Jefferies Financial Group lowered their price target on the stock from $195.00 to $165.00. Jefferies Financial Group currently has a hold rating on the stock. Old Dominion Freight Line traded as low as $145.79 and last traded at $147.19, with a volume of 362112 shares. The stock had previously closed at $148.34.

A number of other research firms have also commented on ODFL. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and increased their price objective for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Raymond James decreased their price objective on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday. Truist Financial started coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 target price on the stock. Evercore ISI upped their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their target price on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $195.75.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. increased its holdings in shares of Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after acquiring an additional 55 shares during the last quarter. D.A. Davidson & CO. increased its stake in Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares during the last quarter. Evergreen Private Wealth LLC raised its holdings in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after purchasing an additional 59 shares during the period. Lido Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 3.2% during the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock worth $340,000 after purchasing an additional 59 shares during the period. Finally, Dorsey & Whitney Trust CO LLC lifted its position in shares of Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock worth $206,000 after buying an additional 61 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

The firm has a market capitalization of $33.32 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The company’s fifty day moving average price is $176.03 and its 200 day moving average price is $190.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.