Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 12-Month Low - What's Next?

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ODFL. Evercore ISI lifted their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a research report on Thursday, February 6th. Truist Financial initiated coverage on Old Dominion Freight Line in a report on Thursday. They issued a "buy" rating and a $220.00 price target for the company. Morgan Stanley increased their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. The Goldman Sachs Group boosted their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft assumed 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 for the company. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $202.65.

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Old Dominion Freight Line Stock Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market capitalization of $34.64 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock's fifty day moving average is $186.67 and its two-hundred day moving average is $195.81.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) 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%. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. 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 dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio is 18.98%.

Institutional Trading of Old Dominion Freight Line

Several institutional investors have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth about $35,000. Itau Unibanco Holding S.A. lifted its holdings in Old Dominion Freight Line by 518.9% during the 4th 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 last quarter. Synergy Asset Management LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth approximately $41,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at approximately $45,000. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $51,000. 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.