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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has received a consensus recommendation of “Hold” from the twenty analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $202.88.

ODFL has been the subject of several recent research reports. Stephens reiterated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Argus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. BMO Capital Markets reduced their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th.

Old Dominion Freight Line Trading Up 0.6 %

NASDAQ:ODFL opened at $205.09 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26. The company has a market cap of $43.79 billion, a PE ratio of 35.85, a PEG ratio of 4.25 and a beta of 1.00. The firm has a 50-day moving average of $208.49 and a 200-day moving average of $195.62.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping 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 return on equity of 29.40% and a net margin of 21.03%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. As a group, equities research analysts expect that Old Dominion Freight Line will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Insider Activity

In related news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred 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 directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction 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. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in ODFL. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth about $25,000. LRI Investments LLC increased its position in shares of Old Dominion Freight Line by 73.1% during the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares during the period. Cullen Frost Bankers Inc. lifted its holdings 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 in the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $45,000. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the period. 77.82% of the stock is currently owned by hedge funds and other 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.