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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been assigned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $201.18.

Several brokerages recently weighed in on ODFL. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 target price for the company in a report on Monday, April 29th. Barclays dropped their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th. Bank of America dropped their target price on Old Dominion Freight Line from $205.00 to $192.00 and set a “neutral” rating for the company in a report on Thursday, June 6th. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a report on Friday, June 7th. They set an “underweight” rating and a $175.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a report on Thursday, April 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of Old Dominion Freight Line by 22.5% in the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 27 shares during the period. Lido Advisors LLC increased its position in Old Dominion Freight Line by 3.1% during the 3rd quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock valued at $397,000 after buying an additional 29 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in Old Dominion Freight Line by 14.6% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock valued at $96,000 after buying an additional 30 shares in the last quarter. Avantax Advisory Services Inc. increased its position in Old Dominion Freight Line by 1.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after buying an additional 30 shares in the last quarter. Finally, Drive Wealth Management LLC increased its position in Old Dominion Freight Line by 5.3% during the 4th quarter. Drive Wealth Management LLC now owns 778 shares of the transportation company’s stock valued at $316,000 after buying an additional 39 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $174.85 on Wednesday. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $37.99 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The business’s 50-day moving average price is $181.20 and its 200-day moving average price is $200.46. Old Dominion Freight Line has a 12 month low of $163.30 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Sell-side analysts forecast that Old Dominion Freight Line will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s payout ratio is presently 18.31%.

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.