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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned an average recommendation of “Hold” from the twenty-two analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $174.55.

Several brokerages have recently weighed in on ODFL. UBS Group decreased their target price on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Susquehanna decreased their price objective on Old Dominion Freight Line from $168.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday, June 18th. Robert W. Baird initiated coverage on Old Dominion Freight Line in a report on Tuesday, July 1st. They set a “neutral” rating and a $164.00 price target for the company. Stephens reissued an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Finally, Baird R W raised shares of Old Dominion Freight Line to a “hold” rating in a research note on Tuesday, July 1st.

Old Dominion Freight Line Stock Up 0.7%

ODFL stock opened at $171.08 on Friday. The company has a market cap of $36.15 billion, a price-to-earnings ratio of 32.10, a price-to-earnings-growth ratio of 3.53 and a beta of 1.25. The company has a fifty day moving average price of $162.00 and a 200 day moving average price of $171.14. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32. Old Dominion Freight Line has a 12 month low of $144.90 and a 12 month high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the prior year, the business earned $1.34 EPS. Old Dominion Freight Line’s quarterly revenue was down 5.8% compared to the same quarter last year. Sell-side analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Wednesday, June 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 21.01%.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at approximately $494,916,000. T. Rowe Price Investment Management Inc. raised its holdings in Old Dominion Freight Line by 1,575.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock worth $255,390,000 after purchasing an additional 1,361,397 shares during the last quarter. Nuveen LLC acquired a new position in Old Dominion Freight Line during the first quarter worth $151,107,000. JPMorgan Chase & Co. raised its stake in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after buying an additional 754,796 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth $114,449,000. 77.82% of the stock is currently 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.