Benchmark Reiterates “Hold” Rating for Old Dominion Freight Line (NASDAQ:ODFL)

Benchmark reissued their hold rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a report released on Thursday morning, Benzinga reports.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a neutral rating in a research note on Thursday. Vertical Research upgraded shares of Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 price objective on the stock in a report on Monday, April 29th. Wells Fargo & Company started coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They set an underweight rating and a $175.00 price target for the company. Barclays decreased their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating for the company in a research report on Wednesday, June 12th. Finally, BMO Capital Markets boosted their target price on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an outperform rating in a report on Thursday. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of Hold and an average target price of $201.97.

Old Dominion Freight Line Trading Up 5.7 %

ODFL opened at $205.70 on Thursday. The firm’s fifty day moving average is $179.87 and its two-hundred day moving average is $198.72. The firm has a market cap of $44.70 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $1.33 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Old Dominion Freight Line will post 5.85 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ODFL. Raymond James & Associates grew its holdings in Old Dominion Freight Line by 14.7% during the 4th quarter. Raymond James & Associates now owns 26,184 shares of the transportation company’s stock worth $10,613,000 after acquiring an additional 3,356 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Old Dominion Freight Line by 18.5% during the fourth quarter. Pacer Advisors Inc. now owns 13,976 shares of the transportation company’s stock valued at $5,665,000 after acquiring an additional 2,183 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Old Dominion Freight Line by 149.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 7,929 shares of the transportation company’s stock valued at $3,214,000 after buying an additional 4,748 shares in the last quarter. Schechter Investment Advisors LLC boosted its stake in Old Dominion Freight Line by 6.6% during the 4th quarter. Schechter Investment Advisors LLC now owns 770 shares of the transportation company’s stock valued at $312,000 after purchasing an additional 48 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Old Dominion Freight Line by 26.9% during the fourth quarter. Global Retirement Partners LLC now owns 3,063 shares of the transportation company’s stock valued at $1,172,000 after buying an additional 649 shares during the last quarter. Institutional investors 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.