Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 12-Month Low on Analyst Downgrade

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) shares hit a new 52-week low on Wednesday after Stifel Nicolaus lowered their price target on the stock from $200.00 to $188.00. Stifel Nicolaus currently has a buy rating on the stock. Old Dominion Freight Line traded as low as $145.79 and last traded at $147.19, with a volume of 362112 shares. The stock had previously closed at $148.34.

ODFL has been the subject of a number of other reports. Jefferies Financial Group decreased their price objective on Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a research report on Wednesday, April 9th. StockNews.com cut shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a report on Saturday, March 29th. Morgan Stanley set a $185.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Raymond James decreased their target price on shares of Old Dominion Freight Line from $215.00 to $190.00 and set an "outperform" rating for the company in a research note on Tuesday, April 8th. Finally, Susquehanna lowered 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 report on Monday, March 31st. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $195.15.

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Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ODFL. Norges Bank acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $494,916,000. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock worth $255,390,000 after buying an additional 1,361,397 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $128,221,000. Raymond James Financial Inc. bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $114,449,000. Finally, Thrivent Financial for Lutherans grew its stake in shares of Old Dominion Freight Line by 92.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,195,331 shares of the transportation company's stock worth $210,856,000 after acquiring an additional 573,586 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

The firm has a market cap of $32.64 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25. The stock's 50-day moving average is $175.40 and its 200-day moving average is $190.44. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.28 dividend. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.73%. 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.