Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 1-Year Low – What’s Next?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company 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.

Wall Street Analyst Weigh In

ODFL has been the subject of several analyst reports. Susquehanna restated a “neutral” rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Citigroup reduced their price target on shares of Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft initiated 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 target on the stock. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $201.74.

Old Dominion Freight Line Stock Down 0.3 %

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $186.91 and a 200 day simple moving average of $196.03. The firm has a market capitalization of $35.41 billion, a PE ratio of 30.37, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS 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%. As a group, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This is a positive change 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 0.67%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ODFL. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $35,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line in the third quarter worth about $45,000. Itau Unibanco Holding S.A. lifted its holdings 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 worth $40,000 after buying an additional 192 shares during the period. Synergy Asset Management LLC bought a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $41,000. Finally, Brown Brothers Harriman & Co. boosted 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 valued at $53,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.