Old Dominion Freight Line (NASDAQ:ODFL) Shares Down 4.9% – Time to Sell?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL)’s stock price was down 4.9% during trading on Wednesday . The stock traded as low as $186.11 and last traded at $189.68. Approximately 1,307,911 shares traded hands during trading, a decline of 15% from the average daily volume of 1,537,689 shares. The stock had previously closed at $199.55.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ODFL shares. Stephens reaffirmed an “overweight” rating and set a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Morgan Stanley lowered their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a report on Thursday, September 5th. Bank of America reduced their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Finally, BMO Capital Markets lowered Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $214.00 to $210.00 in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $199.44.

Old Dominion Freight Line Trading Down 5.5 %

The firm has a market capitalization of $40.97 billion, a P/E ratio of 32.38, a price-to-earnings-growth ratio of 4.18 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a 50 day moving average price of $195.77 and a two-hundred day moving average price of $190.85.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.33 EPS. On average, equities research analysts expect that Old Dominion Freight Line, Inc. will post 5.59 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is presently 17.82%.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line during the second quarter worth $25,000. Farmers & Merchants Investments Inc. grew its position in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. grew its position in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares in the last quarter. Washington Trust Advisors Inc. grew its position in Old Dominion Freight Line by 138.3% during the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock worth $31,000 after buying an additional 83 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Old Dominion Freight Line by 1,630.0% during the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after buying an additional 163 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.