Old Dominion Freight Line (NASDAQ:ODFL) Sets New 1-Year Low on Analyst Downgrade

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares hit a new 52-week low during 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.

Several other equities analysts also recently commented on ODFL. Citigroup dropped their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and raised their price objective for the company from $193.00 to $200.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on shares of 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. Truist Financial started coverage on Old Dominion Freight Line in a report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective for the company. Finally, Susquehanna dropped their price target on Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $199.70.

Institutional Trading of Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in the business. 111 Capital purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $380,000. Cim LLC lifted its position in Old Dominion Freight Line by 2.6% in the fourth quarter. Cim LLC now owns 7,056 shares of the transportation company’s stock worth $1,245,000 after buying an additional 182 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Old Dominion Freight Line during the fourth quarter worth $39,633,000. Jefferies Financial Group Inc. bought a new position in Old Dominion Freight Line during the fourth quarter valued at $1,127,000. Finally, Challenger Wealth Management purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $233,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Down 2.4 %

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’s fifty day moving average price is $179.81 and its 200-day moving average price is $192.53. The stock has a market cap of $32.32 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (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%. Equities analysts forecast 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 disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.74%. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio 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.