Old Dominion Freight Line (NASDAQ:ODFL) Trading Down 4.5% – Should You Sell?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares fell 4.5% during trading on Friday . The stock traded as low as $146.41 and last traded at $149.63. 244,942 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,664,143 shares. The stock had previously closed at $156.75.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ODFL shares. StockNews.com cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research note on Thursday, March 27th. Susquehanna reduced their price target on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a research report on Monday, March 31st. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Finally, Evercore ISI upped their target price on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $195.75.

Old Dominion Freight Line Trading Down 2.9 %

The business has a 50 day moving average price of $175.40 and a 200 day moving average price of $190.47. The company has a market capitalization of $32.36 billion, a P/E ratio of 27.78, a PEG ratio of 2.89 and a beta of 1.25. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

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

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.74%. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Institutional Investors Weigh In On Old Dominion Freight Line

Several large investors have recently modified their holdings of the business. American National Bank & Trust acquired a new position in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $30,000. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Itau Unibanco Holding S.A. increased its position in shares of Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after acquiring an additional 192 shares in the last quarter. Synergy Asset Management LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $41,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $51,000. 77.82% of the stock is currently owned by institutional investors.

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.