Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 12-Month Low - Should You Sell?

Key Points

• Old Dominion Freight Line shares reached a new 52-week low of $140.36, down from a previous close of $142.39, with 549,359 shares traded.
• Several analysts provided mixed ratings, with an average price target of $166.95 and 8 analysts rating the stock as a Buy, while 14 rated it as a Hold.
• The company reported a decrease in quarterly revenue by 6.1% year-over-year, with earnings per share of $1.27, missing expectations by $0.02.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report)'s share price reached a new 52-week low during trading on Friday . The company traded as low as $140.52 and last traded at $140.36, with a volume of 549359 shares changing hands. The stock had previously closed at $142.39.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ODFL shares. Raymond James Financial cut their price objective on Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research report on Thursday, July 31st. Vertical Research upgraded Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 price objective for the company in a research report on Thursday, July 31st. Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a research report on Thursday, July 31st. Baird R W upgraded Old Dominion Freight Line to a "hold" rating in a research report on Tuesday, July 1st. Finally, Stephens cut their price objective on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating for the company in a research report on Thursday, July 31st. Eight equities 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 stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of "Hold" and a consensus price target of $166.95.

Old Dominion Freight Line Trading Down 1.4%

The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $152.42 and a 200-day simple moving average of $158.43. The company has a market capitalization of $29.20 billion, a PE ratio of 27.13, a PEG ratio of 3.27 and a beta of 1.23.

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

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders 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 of this dividend was Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio is 21.88%.

Hedge Funds Weigh In On Old Dominion Freight Line

Large investors have recently modified their holdings of the business. Larson Financial Group LLC lifted its stake in shares of Old Dominion Freight Line by 234.8% in the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after purchasing an additional 108 shares during the last quarter. Financial Gravity Companies Inc. acquired a new position in Old Dominion Freight Line during the 2nd quarter worth about $26,000. Rossby Financial LCC acquired a new position in Old Dominion Freight Line during the 2nd quarter worth about $28,000. American National Bank & Trust acquired a new position in Old Dominion Freight Line during the 1st quarter worth about $30,000. Finally, Zions Bancorporation National Association UT acquired a new position in Old Dominion Freight Line during the 1st quarter worth about $39,000. 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.