Old Dominion Freight Line’s (ODFL) “Neutral” Rating Reiterated at Susquehanna

Susquehanna reiterated their neutral rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research note released on Tuesday, Marketbeat reports. The brokerage currently has a $195.00 target price on the transportation company’s stock, down from their prior target price of $218.00.

A number of other equities analysts also recently issued reports on the company. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Barclays increased their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. TD Cowen decreased their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Robert W. Baird decreased their price objective 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. Finally, Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $204.12.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $179.58 on Tuesday. The stock has a 50 day moving average price of $203.37 and a 200 day moving average price of $197.24. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $38.34 billion, a price-to-earnings ratio of 31.40, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week 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 analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.54 earnings per share. Research analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.18%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on Monday, October 28th. The stock was 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. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its position in shares of Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock valued at $19,479,000 after buying an additional 42,880 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Old Dominion Freight Line by 20.5% in the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock valued at $1,188,000 after buying an additional 1,017 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Old Dominion Freight Line in the third quarter valued at $2,109,000. Kinsale Capital Group Inc. increased its position in shares of Old Dominion Freight Line by 18.4% in the third quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company’s stock valued at $4,627,000 after buying an additional 3,614 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter valued at $30,745,000. 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.