Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Down 5.9% - Should You Sell?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report)'s stock price was down 5.9% on Friday . The stock traded as low as $176.03 and last traded at $176.64. Approximately 1,233,606 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 1,525,193 shares. The stock had previously closed at $187.74.

Analyst Ratings Changes

Several analysts have issued reports on ODFL shares. Susquehanna dropped their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a research report on Thursday, October 24th. Stephens reaffirmed an "overweight" rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. Robert W. Baird cut their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Citigroup boosted their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 12th. Finally, Barclays upped their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an "equal weight" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $204.00.

Old Dominion Freight Line Stock Down 3.4 %

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 firm has a market cap of $38.72 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 4.21 and a beta of 1.00. The firm's 50 day simple moving average is $209.29 and its two-hundred day simple moving average is $196.52.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm's quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. Old Dominion Freight Line's payout ratio is 18.18%.

Insider Buying and Selling

In other news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the company's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now owns 97,890 shares of the company's stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ODFL. Assenagon Asset Management S.A. lifted its stake in Old Dominion Freight Line by 6.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 6,763 shares of the transportation company's stock valued at $1,194,000 after purchasing an additional 435 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Old Dominion Freight Line by 2.3% in the 2nd quarter. Fifth Third Bancorp now owns 7,961 shares of the transportation company's stock valued at $1,406,000 after acquiring an additional 179 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $271,000. &PARTNERS bought a new stake in Old Dominion Freight Line during the 2nd quarter worth $373,000. Finally, TrueWealth Advisors LLC acquired a new position in Old Dominion Freight Line in the 2nd quarter worth about $254,000. 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.