Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 12-Month Low – Here’s Why

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $159.11 and last traded at $166.12, with a volume of 1602555 shares changing hands. The stock had previously closed at $162.50.

Wall Street Analysts Forecast Growth

ODFL has been the subject of several research reports. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a report on Friday, March 7th. They set a “buy” rating and a $236.00 price objective for the company. Morgan Stanley upped their target price on shares of 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. Finally, Jefferies Financial Group upped their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Trading Up 0.2 %

The firm has a market capitalization of $34.53 billion, a PE ratio of 29.64, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock’s 50-day moving average price is $185.00 and its 200 day moving average price is $194.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

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 analysts’ consensus estimates 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%. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. The ex-dividend date was 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 (DPR) is currently 18.98%.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the business. Avanza Fonder AB bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $128,221,000. Toronto Dominion Bank boosted its stake in Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after acquiring an additional 42,880 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $600,000. Finally, Reliant Investment Management LLC boosted its stake in Old Dominion Freight Line by 10.4% in the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock valued at $3,854,000 after acquiring an additional 2,060 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

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.