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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) reached a new 52-week low during trading on Thursday after Barclays lowered their price target on the stock from $195.00 to $185.00. Barclays currently has an equal weight rating on the stock. Old Dominion Freight Line traded as low as $156.87 and last traded at $158.08, with a volume of 1017370 shares trading hands. The stock had previously closed at $170.10.

Other equities research analysts have also issued reports about the company. Susquehanna dropped their price target on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday. Stephens reaffirmed an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Bank of America lowered their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective for the company. Finally, Citigroup decreased their target price on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $199.70.

Institutional Trading of Old Dominion Freight Line

Several institutional investors and hedge funds have recently made changes to their positions in the company. 111 Capital purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $380,000. Cim LLC increased its holdings in shares of Old Dominion Freight Line by 2.6% in the 4th quarter. Cim LLC now owns 7,056 shares of the transportation company’s stock valued at $1,245,000 after acquiring an additional 182 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at $39,633,000. Jefferies Financial Group Inc. acquired a new stake in Old Dominion Freight Line during the 4th quarter worth $1,127,000. Finally, Challenger Wealth Management purchased a new position in Old Dominion Freight Line during the 4th quarter worth $233,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Down 7.1 %

The business’s 50 day simple moving average is $181.30 and its 200 day simple moving average is $193.06. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market capitalization of $33.60 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data 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%. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. This is a positive change 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 18.98%.

Old Dominion Freight Line Company Profile

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.