Old Dominion Freight Line (NASDAQ:ODFL) Hits New 52-Week Low - Here's Why

Key Points

• Old Dominion Freight Line recently hit a new 52-week low of $134.34, with shares last trading at $135.28.
• Analysts have issued mixed ratings, with eight analysts recommending a Buy, while fourteen have given a Hold rating, resulting in a consensus rating of "Hold" and an average price target of $166.95.
• Despite a 6.1% decline in revenue year-over-year, the company announced a quarterly dividend of $0.28 per share, representing a 0.8% dividend yield.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report)'s stock price hit a new 52-week low on Friday . The company traded as low as $134.34 and last traded at $135.28, with a volume of 1416096 shares. The stock had previously closed at $140.43.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. UBS Group dropped their price target on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Stephens lowered their price target on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Truist Financial upped their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a "buy" rating in a research report on Monday, June 30th. The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lifted their target price for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. Finally, Benchmark reiterated a "hold" rating and issued a $102.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $166.95.

Old Dominion Freight Line Trading Down 1.3%

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market capitalization of $29.13 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 3.28 and a beta of 1.23. The business has a fifty day moving average price of $150.61 and a 200 day moving average price of $157.64.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period last year, the firm posted $1.48 EPS. The company's revenue was down 6.1% compared to the same quarter last year. On average, equities analysts expect that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.88%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently added to or reduced their stakes in ODFL. GAMMA Investing LLC increased its position in shares of Old Dominion Freight Line by 48.7% during the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock worth $514,000 after purchasing an additional 1,018 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Old Dominion Freight Line by 9.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock valued at $2,911,000 after purchasing an additional 1,529 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Old Dominion Freight Line by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company's stock worth $1,507,000 after purchasing an additional 443 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Old Dominion Freight Line by 29.0% during the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company's stock worth $395,000 after purchasing an additional 537 shares during the last quarter. Finally, Wilkinson Global Asset Management LLC increased its position in Old Dominion Freight Line by 6.0% in the 1st quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company's stock valued at $17,839,000 after acquiring an additional 6,133 shares in 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.

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