Old Dominion Freight Line (NASDAQ:ODFL) Trading Down 5.9% – Should You Sell?

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) were down 5.9% during mid-day trading on Friday . The company traded as low as $176.03 and last traded at $176.64. Approximately 1,233,606 shares changed hands during trading, a decline of 19% from the average daily volume of 1,525,193 shares. The stock had previously closed at $187.74.

Analyst Ratings Changes

ODFL has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. TD Cowen decreased their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Stephens reiterated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. Finally, Barclays raised their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $204.00.

Old Dominion Freight Line Price Performance

The stock has a market capitalization of $39.20 billion, a PE ratio of 32.10, a price-to-earnings-growth ratio of 4.21 and a beta of 1.00. The business’s 50-day moving average price is $209.29 and its 200 day moving average price is $196.52. 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 released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the company earned $1.54 EPS. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts forecast that Old Dominion Freight Line, Inc. will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line during the 2nd quarter valued at $25,000. LRI Investments LLC boosted its holdings in shares of Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after buying an additional 79 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $45,000. Cullen Frost Bankers Inc. grew its holdings in Old Dominion Freight Line by 472.5% during the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 189 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the period. Hedge funds and other institutional investors 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.