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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been assigned a consensus recommendation of “Hold” from the twenty-six ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have given a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $222.00.

A number of equities research analysts recently issued reports on ODFL shares. Wells Fargo & Company raised shares of Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $235.00 to $250.00 in a report on Wednesday, July 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Old Dominion Freight Line in a report on Friday, July 10th. UBS Group increased their price target on shares of Old Dominion Freight Line from $216.00 to $224.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. BMO Capital Markets restated an “outperform” rating and set a $230.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Finally, Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research report on Thursday, April 30th.

Old Dominion Freight Line Stock Down 1.5%

Shares of NASDAQ:ODFL opened at $225.23 on Thursday. The business has a fifty day moving average of $220.29 and a two-hundred day moving average of $201.40. The stock has a market cap of $46.84 billion, a P/E ratio of 47.12, a PEG ratio of 4.16 and a beta of 1.18. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company earned $1.19 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line will post 5.51 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 24.27%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction on Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director owned 88,551 shares in the company, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is currently owned by company insiders.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the business. Bogart Wealth LLC lifted its stake in Old Dominion Freight Line by 9.9% in the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock worth $100,000 after acquiring an additional 46 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Old Dominion Freight Line by 1.3% in the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock valued at $814,000 after purchasing an additional 55 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Old Dominion Freight Line by 2.3% in the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after purchasing an additional 56 shares in the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after purchasing an additional 57 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after purchasing an additional 60 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.