Old Dominion Freight Line (NASDAQ:ODFL) Sets New 12-Month Low – What’s Next?

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $133.09 and last traded at $134.16, with a volume of 281545 shares traded. The stock had previously closed at $135.45.

Analysts Set New Price Targets

ODFL has been the subject of several research analyst reports. Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price objective for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. upped their price target on shares of Old Dominion Freight Line from $143.00 to $144.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a report on Thursday, October 30th. Susquehanna increased their price objective on Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research report on Wednesday, September 10th. Finally, Robert W. Baird set a $148.00 target price on Old Dominion Freight Line and gave the company a “neutral” rating in a report on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $159.33.

Old Dominion Freight Line Price Performance

The company has a market capitalization of $28.12 billion, a PE ratio of 27.04, a P/E/G ratio of 3.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.38 and a current ratio of 1.20. The stock has a 50 day moving average price of $140.60 and a two-hundred day moving average price of $152.65.

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

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.54%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ODFL. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Old Dominion Freight Line by 9.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,395 shares of the transportation company’s stock valued at $58,304,000 after acquiring an additional 30,328 shares during the last quarter. Vest Financial LLC raised its position in shares of Old Dominion Freight Line by 66.8% during the second quarter. Vest Financial LLC now owns 170,838 shares of the transportation company’s stock worth $27,727,000 after purchasing an additional 68,410 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $778,000. PNC Financial Services Group Inc. raised its holdings in Old Dominion Freight Line by 8.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 27,223 shares of the transportation company’s stock worth $4,504,000 after buying an additional 2,161 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Old Dominion Freight Line by 1.9% during the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company’s stock worth $3,750,157,000 after acquiring an additional 416,097 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.