Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 52-Week Low – Time to Sell?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $126.57 and last traded at $127.51, with a volume of 1963579 shares traded. The stock had previously closed at $130.66.

Analyst Upgrades and Downgrades

ODFL has been the subject of several recent research reports. UBS Group increased their price objective on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Thursday, July 31st. Zacks Research upgraded shares of Old Dominion Freight Line from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Citigroup dropped their price objective on shares of Old Dominion Freight Line from $173.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a research note on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average price target of $159.33.

Old Dominion Freight Line Price Performance

The stock has a market cap of $26.66 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. The stock’s fifty day moving average is $139.08 and its 200-day moving average is $152.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business posted $1.43 EPS. Old Dominion Freight Line’s revenue was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.9%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently modified their holdings of the business. Brighton Jones LLC increased its position in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after acquiring an additional 108 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Old Dominion Freight Line by 1.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 9,549 shares of the transportation company’s stock worth $1,580,000 after purchasing an additional 95 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in shares of Old Dominion Freight Line by 3.4% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 14,495 shares of the transportation company’s stock worth $2,398,000 after purchasing an additional 480 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings in Old Dominion Freight Line by 9.9% in the 1st quarter. Allianz Asset Management GmbH now owns 20,402 shares of the transportation company’s stock valued at $3,376,000 after purchasing an additional 1,833 shares during the last quarter. Institutional investors and hedge funds 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.