Old Dominion Freight Line (NASDAQ:ODFL) Hits New 52-Week Low – What’s Next?

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ODFL shares. Citigroup decreased their price objective on Old Dominion Freight Line from $173.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Morgan Stanley reduced their price target on Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Vertical Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Thursday, July 31st. Evercore ISI cut their price objective on shares of Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. Finally, Stephens decreased their target price on shares of Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $159.33.

Old Dominion Freight Line Stock Performance

The company has a market cap of $28.12 billion, a P/E ratio of 27.04, a PEG ratio of 3.22 and a beta of 1.22. The stock’s 50-day moving average price is $140.60 and its 200-day moving average price is $152.65. 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 announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company posted $1.43 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. 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 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 payout ratio is currently 22.54%.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the business. Two Sigma Investments LP increased its position in shares of Old Dominion Freight Line by 637.5% during the third quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after acquiring an additional 1,362,697 shares in the last quarter. Ossiam boosted its stake in Old Dominion Freight Line by 3,535.3% in the third quarter. Ossiam now owns 123,929 shares of the transportation company’s stock valued at $17,447,000 after acquiring an additional 120,520 shares during the last quarter. Sirios Capital Management L P increased its position in Old Dominion Freight Line by 59.5% in the third quarter. Sirios Capital Management L P now owns 115,315 shares of the transportation company’s stock worth $16,234,000 after buying an additional 43,007 shares during the last quarter. Marathon Capital Management purchased a new stake in Old Dominion Freight Line during the third quarter valued at about $207,000. Finally, NorthRock Partners LLC boosted its holdings in Old Dominion Freight Line by 33.0% in the 3rd quarter. NorthRock Partners LLC now owns 3,147 shares of the transportation company’s stock worth $443,000 after buying an additional 780 shares during the period. 77.82% of the stock is 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.