Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 12-Month Low – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ODFL shares. JPMorgan Chase & Co. lifted their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Evercore ISI lifted their target price on 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. The Goldman Sachs Group increased their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Truist Financial assumed coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They set a “buy” rating and a $220.00 price objective on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Thursday, February 6th. One equities research 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 company’s stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Stock Up 2.2 %

The firm’s 50-day simple moving average is $185.72 and its 200 day simple moving average is $195.17. 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 company has a market cap of $35.31 billion, a P/E ratio of 30.31, a PEG ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 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%. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the stock. SevenBridge Financial Group LLC raised its position in Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after purchasing an additional 50 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Old Dominion Freight Line by 3.6% during the fourth 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% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after purchasing an additional 55 shares during the last quarter. Finally, Evergreen Private Wealth LLC boosted its holdings in Old Dominion Freight Line by 0.9% during the 4th quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after acquiring an additional 59 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.