Old Dominion Freight Line (NASDAQ:ODFL) Hits New 12-Month Low on Analyst Downgrade

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) reached a new 52-week low during trading on Wednesday after Jefferies Financial Group lowered their price target on the stock from $195.00 to $165.00. Jefferies Financial Group currently has a hold rating on the stock. Old Dominion Freight Line traded as low as $145.79 and last traded at $147.19, with a volume of 362112 shares trading hands. The stock had previously closed at $148.34.

Several other research firms also recently weighed in on ODFL. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $210.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, March 31st. Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their target price for the stock from $193.00 to $200.00 in a report on Monday, February 24th. Raymond James cut their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday. Evercore ISI upped their target price on 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. Finally, Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating on the stock in a report on Thursday, March 27th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line currently has an average rating of “Hold” and a consensus price target of $195.75.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. grew its holdings in Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after acquiring an additional 55 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after buying an additional 55 shares during the last quarter. Evergreen Private Wealth LLC raised its stake in Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after buying an additional 59 shares in the last quarter. Lido Advisors LLC lifted its holdings in Old Dominion Freight Line by 3.2% during the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company’s stock worth $340,000 after buying an additional 59 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of Old Dominion Freight Line by 5.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company’s stock valued at $206,000 after acquiring an additional 61 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Down 5.3 %

The firm has a 50-day moving average price of $176.03 and a two-hundred day moving average price of $190.80. 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 cap of $33.32 billion, a price-to-earnings ratio of 28.60, a price-to-earnings-growth ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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 net margin of 20.40% and a return on equity of 28.02%. On average, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.71%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

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.