Old Dominion Freight Line (NASDAQ:ODFL) Sets New 52-Week Low – Here’s Why

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares hit a new 52-week low on Wednesday . The stock traded as low as $164.06 and last traded at $165.54, with a volume of 190329 shares traded. The stock had previously closed at $167.03.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ODFL shares. Susquehanna reiterated a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price target for the company. Citigroup lowered their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Jefferies Financial Group lifted their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Truist Financial started coverage on shares of Old Dominion Freight Line in a report on Thursday. They set a “buy” rating and a $220.00 price target on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $202.65.

Old Dominion Freight Line Trading Down 0.9 %

The company has a market capitalization of $34.64 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The company has a 50 day simple moving average of $186.67 and a 200 day simple moving average of $195.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates 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%. Analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $35,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line during the third quarter worth about $45,000. Itau Unibanco Holding S.A. raised its stake in Old Dominion Freight Line by 518.9% during the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 192 shares during the period. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the period. 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.