Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report)'s share price traded down 9.9% during mid-day trading on Friday . The company traded as low as $180.00 and last traded at $177.75. 852,318 shares changed hands during trading, a decline of 43% from the average session volume of 1,484,828 shares. The stock had previously closed at $197.25.
Wall Street Analyst Weigh In
ODFL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Citigroup boosted their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a "neutral" rating in a report on Tuesday, November 12th. Susquehanna reaffirmed a "neutral" rating and set a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Morgan Stanley boosted their price objective on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an "underweight" rating for the company in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $203.72.
Get Our Latest Analysis on ODFL
Old Dominion Freight Line Stock Performance
The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $188.62 and a two-hundred day moving average price of $197.74. The company has a market cap of $38.40 billion, a price-to-earnings ratio of 32.82, a P/E/G ratio of 2.89 and a beta of 1.05.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share 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 predict that Old Dominion Freight Line, Inc. will post 5.68 EPS for the current year.
Old Dominion Freight Line Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.98%.
Institutional Trading of Old Dominion Freight Line
A number of large investors have recently made changes to their positions in the company. State Street Corp grew its stake in Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company's stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Old Dominion Freight Line by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company's stock valued at $870,311,000 after purchasing an additional 96,410 shares in the last quarter. Norges Bank acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $494,916,000. Capital World Investors increased its stake in Old Dominion Freight Line by 1.1% during the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company's stock worth $442,784,000 after purchasing an additional 27,367 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Old Dominion Freight Line by 15.2% during the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company's stock worth $349,952,000 after purchasing an additional 261,305 shares in the last quarter. Institutional investors own 77.82% of the company's stock.
About Old Dominion Freight Line
(
Get Free Report)
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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