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

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on ODFL shares. Morgan Stanley lifted their price objective on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Barclays dropped their price objective on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an "equal weight" rating for the company in a report on Monday, March 10th. Bank of America dropped their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. 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 lifted their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an "in-line" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $202.65.

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Old Dominion Freight Line Stock Performance

The firm's 50-day moving average is $184.63 and its 200 day moving average is $194.49. The stock has a market cap of $35.12 billion, a PE ratio of 30.15, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results 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 net margin of 20.40% and a return on equity of 28.02%. As a group, research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared 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 an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.68%. Old Dominion Freight Line's dividend payout ratio is 18.98%.

Institutional Trading of Old Dominion Freight Line

Several institutional investors and hedge funds have recently bought and sold shares of the business. Oppenheimer & Co. Inc. acquired a new position in Old Dominion Freight Line in the 3rd quarter valued at $271,000. Empowered Funds LLC increased its stake in Old Dominion Freight Line by 6.0% in the 3rd quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company's stock valued at $704,000 after buying an additional 199 shares during the period. Mutual of America Capital Management LLC increased its stake in Old Dominion Freight Line by 2.9% in the 3rd quarter. Mutual of America Capital Management LLC now owns 26,182 shares of the transportation company's stock valued at $5,201,000 after buying an additional 747 shares during the period. Caprock Group LLC increased its stake in Old Dominion Freight Line by 9.7% in the 3rd quarter. Caprock Group LLC now owns 8,956 shares of the transportation company's stock valued at $1,779,000 after buying an additional 794 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Old Dominion Freight Line by 11.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 25,718 shares of the transportation company's stock worth $5,109,000 after purchasing an additional 2,656 shares during the period. 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.