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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received an average recommendation of “Hold” from the fourteen analysts that are covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $212.59.

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating for the company in a report on Tuesday. Stifel Nicolaus lifted their target price on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Barclays dropped their target price on Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a report on Thursday, April 4th. Finally, Susquehanna lifted their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a report on Thursday, February 8th.

Old Dominion Freight Line Trading Up 2.2 %

Shares of Old Dominion Freight Line stock opened at $219.79 on Friday. The business has a fifty day simple moving average of $221.04 and a two-hundred day simple moving average of $205.97. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80. The company has a market capitalization of $47.84 billion, a price-to-earnings ratio of 39.04, a P/E/G ratio of 3.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.04. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $1.46 EPS. The company’s quarterly revenue was up .3% on a year-over-year basis. Research analysts forecast that Old Dominion Freight Line will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.47%.

Insider Transactions at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the sale, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas grew its holdings in Old Dominion Freight Line by 0.4% during the third quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock worth $9,528,000 after buying an additional 92 shares in the last quarter. LVW Advisors LLC bought a new position in Old Dominion Freight Line in the 3rd quarter valued at $400,000. Zurich Insurance Group Ltd FI bought a new position in Old Dominion Freight Line in the 2nd quarter valued at $45,343,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Old Dominion Freight Line by 14.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock valued at $7,371,000 after purchasing an additional 2,335 shares during the period. Finally, Kentucky Retirement Systems bought a new position in Old Dominion Freight Line in the 3rd quarter valued at $3,087,000. 77.82% of the stock is owned by institutional investors and hedge funds.

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.