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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been assigned a consensus rating of “Hold” from the twenty ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $204.12.

A number of equities analysts have commented on ODFL shares. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Barclays increased their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price objective for the company from $209.00 to $197.00 in a report on Monday, October 21st. Finally, Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday.

Old Dominion Freight Line Price Performance

ODFL opened at $179.58 on Friday. The business has a fifty day moving average of $203.37 and a 200 day moving average of $197.24. The stock has a market cap of $38.34 billion, a P/E ratio of 31.40, a PEG ratio of 4.21 and a beta of 1.05. 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.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $1.54 earnings per share. As a group, sell-side analysts anticipate that Old Dominion Freight Line will post 5.42 EPS 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. Stockholders of record on Wednesday, December 4th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.58%. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Activity at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line 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 sale, the director now directly owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in shares of Old Dominion Freight Line by 0.6% during the second quarter. Victory Capital Management Inc. now owns 233,844 shares of the transportation company’s stock worth $41,297,000 after purchasing an additional 1,474 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Old Dominion Freight Line by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 56,781 shares of the transportation company’s stock valued at $10,028,000 after buying an additional 417 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Old Dominion Freight Line by 6.7% in the 2nd quarter. Private Advisor Group LLC now owns 9,299 shares of the transportation company’s stock valued at $1,642,000 after buying an additional 583 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of Old Dominion Freight Line by 472.5% in the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 189 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in Old Dominion Freight Line by 15.0% during the second quarter. Illinois Municipal Retirement Fund now owns 67,908 shares of the transportation company’s stock worth $11,993,000 after acquiring an additional 8,862 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.