Old Dominion Freight Line (NASDAQ:ODFL) Hits New 52-Week High at $226.27

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) hit a new 52-week high during trading on Monday . The stock traded as high as $226.27 and last traded at $225.84, with a volume of 37282 shares. The stock had previously closed at $224.57.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Stifel Nicolaus increased their price target on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Barclays lowered their target price on Old Dominion Freight Line to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday. Raymond James reduced their price target on Old Dominion Freight Line from $212.50 to $207.50 and set an “outperform” rating for the company in a research note on Monday, December 11th. The Goldman Sachs Group increased their price objective on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Bank of America reissued a “neutral” rating and set a $223.00 target price (up previously from $221.50) on shares of Old Dominion Freight Line in a report on Wednesday, March 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $212.69.

Old Dominion Freight Line Stock Up 0.4 %

The firm’s 50-day moving average price is $219.16 and its 200 day moving average price is $205.48. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $49.08 billion, a price-to-earnings ratio of 39.89, a PEG ratio of 3.21 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.43 by $0.04. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The company’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $1.46 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line, Inc. will post 6.38 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.46%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.47%.

Insider Activity

In related news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the sale, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

Institutional investors have recently modified their holdings of the business. Heartland Bank & Trust Co raised its position in Old Dominion Freight Line by 1.5% during the 3rd quarter. Heartland Bank & Trust Co now owns 1,655 shares of the transportation company’s stock worth $677,000 after purchasing an additional 24 shares during the last quarter. Northwest Investment Counselors LLC raised its position in shares of Old Dominion Freight Line by 17.4% during the third quarter. Northwest Investment Counselors LLC now owns 169 shares of the transportation company’s stock worth $69,000 after acquiring an additional 25 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Old Dominion Freight Line by 1.6% in the third quarter. Pinnacle Associates Ltd. now owns 1,632 shares of the transportation company’s stock worth $668,000 after acquiring an additional 26 shares during the period. Harbour Investments Inc. lifted its stake in shares of Old Dominion Freight Line by 20.2% in the third quarter. Harbour Investments Inc. now owns 155 shares of the transportation company’s stock worth $63,000 after acquiring an additional 26 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Old Dominion Freight Line by 22.5% in the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after acquiring an additional 27 shares during the last quarter. 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.