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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned a consensus recommendation of “Hold” from the twenty-one ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $200.00.

Several research firms recently issued reports on ODFL. Bank of America dropped their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Robert W. Baird dropped their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Susquehanna cut their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Evercore ISI lowered their price target on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group dropped their price objective on Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th.

Old Dominion Freight Line Stock Performance

ODFL opened at $215.57 on Friday. The stock’s 50 day simple moving average is $201.32 and its 200-day simple moving average is $191.23. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $46.02 billion, a PE ratio of 37.69, a P/E/G ratio of 6.36 and a beta of 0.99. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. Sell-side analysts forecast that Old Dominion Freight Line will post 5.46 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling

In other news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the business’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 value of $1,400,490.00. Following the completion of the transaction, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,975 shares of company stock valued at $10,062,478 in the last 90 days. 9.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter worth about $25,000. Atwood & Palmer Inc. grew its stake in shares of Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after acquiring an additional 148 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 163 shares during the last quarter. LRI Investments LLC lifted its position in shares of Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after purchasing an additional 79 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in Old Dominion Freight Line during the first quarter worth $38,000. 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.