Old Dominion Freight Line (NASDAQ:ODFL) Cut to “Hold” at Stifel Nicolaus

Stifel Nicolaus cut shares of Old Dominion Freight Line (NASDAQ:ODFL) from a buy rating to a hold rating in a research note released on Monday morning, Marketbeat Ratings reports. They currently have $197.00 price target on the transportation company’s stock, down from their prior price target of $209.00.

ODFL has been the subject of several other reports. Raymond James increased their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen reduced their target price on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Susquehanna boosted their target price on Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Wednesday, September 18th. Evercore ISI cut their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. Finally, Citigroup assumed coverage on shares of Old Dominion Freight Line in a report on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 price objective on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $199.44.

Old Dominion Freight Line Stock Down 5.5 %

Shares of Old Dominion Freight Line stock opened at $188.67 on Monday. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50 day simple moving average is $195.77 and its 200 day simple moving average is $190.85. The firm has a market cap of $41.00 billion, a PE ratio of 33.22, a P/E/G ratio of 4.18 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the company earned $1.33 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line will post 5.59 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Institutional Trading of Old Dominion Freight Line

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after buying an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after buying an additional 2,447,121 shares during the last quarter. Bank of New York Mellon Corp grew its position in Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after buying an additional 270,538 shares during the period. Finally, Capital World Investors increased its holdings in Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares during the last quarter. Hedge funds and other 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.