Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives Average Rating of “Hold” from Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been assigned an average rating of “Hold” from the twenty research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $204.00.

ODFL has been the topic of several recent research reports. Susquehanna dropped their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. BMO Capital Markets dropped their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. TD Cowen reduced their price objective 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. Finally, The Goldman Sachs Group raised their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday.

Old Dominion Freight Line Trading Down 1.2 %

NASDAQ ODFL opened at $200.69 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $233.26. The business has a 50 day moving average price of $209.13 and a 200-day moving average price of $196.26. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 4.29 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 earnings per share. As a group, equities analysts expect that Old Dominion Freight Line will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.52%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Insiders Place Their Bets

In other news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank raised its stake in shares of Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after purchasing an additional 1,017 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Old Dominion Freight Line during the third quarter valued at about $2,109,000. Kinsale Capital Group Inc. lifted its stake in shares of Old Dominion Freight Line by 18.4% in the 3rd quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after purchasing an additional 3,614 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $30,745,000. 77.82% of the stock is owned by institutional investors.

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.