Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 12-Month Low – Time to Sell?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares hit a new 52-week low on Wednesday . The stock traded as low as $164.06 and last traded at $165.54, with a volume of 190329 shares trading hands. The stock had previously closed at $167.03.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ODFL. Stephens restated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Susquehanna restated a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Evercore ISI increased their price target on Old Dominion Freight Line from $199.00 to $202.00 and gave the stock an “in-line” rating in a report on Thursday, February 6th. Citigroup decreased their price target on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Finally, Morgan Stanley upped their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Stock Down 0.9 %

The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $34.64 billion, a P/E ratio of 29.74, a P/E/G ratio of 2.89 and a beta of 1.10. The business’s 50 day moving average is $186.67 and its 200 day moving average is $195.81.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.69%. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at $35,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth about $45,000. Itau Unibanco Holding S.A. boosted its position in Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 192 shares during the last quarter. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter worth approximately $41,000. Finally, Brown Brothers Harriman & Co. raised its position in Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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.