Old Dominion Freight Line (NASDAQ:ODFL) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) in a research report sent to investors on Thursday. The firm issued a hold rating on the transportation company’s stock.

Other analysts have also issued research reports about the company. Citigroup increased their price objective on Old Dominion Freight Line from $275.00 to $380.00 and gave the company a neutral rating in a research note on Thursday, February 2nd. Stephens increased their price target on shares of Old Dominion Freight Line from $340.00 to $425.00 and gave the company an overweight rating in a research report on Thursday, February 2nd. The Goldman Sachs Group boosted their price objective on shares of Old Dominion Freight Line from $262.00 to $297.00 and gave the company a neutral rating in a research report on Thursday, February 2nd. Wells Fargo & Company upped their price objective on shares of Old Dominion Freight Line from $315.00 to $395.00 and gave the company an overweight rating in a research note on Thursday, February 2nd. Finally, Susquehanna raised their target price on Old Dominion Freight Line from $260.00 to $330.00 and gave the stock a neutral rating in a research note on Thursday, February 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $342.32.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $331.56 on Thursday. The company has a 50-day simple moving average of $338.91 and a two-hundred day simple moving average of $299.43. Old Dominion Freight Line has a 12-month low of $231.31 and a 12-month high of $381.81. The firm has a market cap of $36.48 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 3.33 and a beta of 1.08. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last released its earnings results on Wednesday, February 1st. The transportation company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.24. Old Dominion Freight Line had a return on equity of 38.60% and a net margin of 22.00%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $2.41 EPS. Old Dominion Freight Line’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Old Dominion Freight Line will post 12.12 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, February 28th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio is currently 13.14%.

Insider Activity at Old Dominion Freight Line

In related news, Director Bradley R. Gabosch sold 2,700 shares of the business’s stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $358.21, for a total transaction of $967,167.00. Following the sale, the director now owns 5,818 shares of the company’s stock, valued at $2,084,065.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Old Dominion Freight Line news, SVP David J. Bates sold 1,208 shares of Old Dominion Freight Line stock in a transaction on Monday, February 27th. The stock was sold at an average price of $344.71, for a total transaction of $416,409.68. Following the completion of the transaction, the senior vice president now owns 14,082 shares in the company, valued at $4,854,206.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley R. Gabosch sold 2,700 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $358.21, for a total value of $967,167.00. Following the completion of the sale, the director now directly owns 5,818 shares in the company, valued at $2,084,065.78. The disclosure for this sale can be found here. 10.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently modified their holdings of ODFL. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Old Dominion Freight Line by 4,027.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,486 shares of the transportation company’s stock valued at $444,000 after purchasing an additional 1,450 shares in the last quarter. Cibc World Market Inc. increased its position in shares of Old Dominion Freight Line by 2.8% during the first quarter. Cibc World Market Inc. now owns 1,846 shares of the transportation company’s stock valued at $551,000 after acquiring an additional 50 shares in the last quarter. Sei Investments Co. raised its holdings in Old Dominion Freight Line by 5.5% in the 1st quarter. Sei Investments Co. now owns 54,600 shares of the transportation company’s stock worth $16,294,000 after acquiring an additional 2,854 shares during the last quarter. Allianz Asset Management GmbH lifted its position in Old Dominion Freight Line by 29.8% in the 1st quarter. Allianz Asset Management GmbH now owns 26,717 shares of the transportation company’s stock valued at $7,979,000 after acquiring an additional 6,133 shares in the last quarter. Finally, Prudential PLC purchased a new stake in Old Dominion Freight Line during the 1st quarter valued at $758,000. Hedge funds and other institutional investors own 73.08% of the company’s stock.

About Old Dominion Freight Line

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Old Dominion Freight Line, Inc engages in the provision of less-than-truckload services. The firm offers regional, inter-regional, and national less-than-truckload services. Its services also include container drayage, truckload brokerage, supply chain consulting, and warehousing. The company was founded by Earl Congdon Sr.