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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) shares hit a new 52-week low during mid-day 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 changing hands. The stock had previously closed at $170.10.

Other equities research analysts also recently issued research reports about the company. Truist Financial began coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They issued a "buy" rating and a $220.00 price objective on the stock. StockNews.com lowered shares of Old Dominion Freight Line from a "hold" rating to a "sell" rating in a research note on Saturday, March 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They set a "buy" rating and a $236.00 price target on the stock. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a "hold" rating to a "buy" rating and lifted their price objective for the company from $193.00 to $200.00 in a report on Monday, February 24th. Finally, Evercore ISI increased their target price on shares of 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. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $199.70.

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Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ODFL. Hantz Financial Services Inc. grew its position in shares of Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company's stock valued at $277,000 after buying an additional 55 shares during the last quarter. D.A. Davidson & CO. boosted its stake in Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company's stock valued at $509,000 after acquiring an additional 55 shares in the last quarter. Evergreen Private Wealth LLC boosted its stake in Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock valued at $1,173,000 after acquiring an additional 59 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 3.2% during the fourth quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock worth $340,000 after purchasing an additional 59 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its position in shares of Old Dominion Freight Line by 5.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock worth $206,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

Old Dominion Freight Line Price Performance

The firm has a market capitalization of $32.32 billion, a PE ratio of 27.75, a P/E/G ratio of 2.89 and a beta of 1.25. 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 company has a fifty day moving average price of $179.81 and a two-hundred day moving average price of $192.48.

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 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%. 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 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 0.74%. 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.