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

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Old Dominion Freight Line (NASDAQ:ODFL) has been assigned an average rating of “Hold” from the fourteen research firms that are currently covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $148.40.

A number of analysts have recently commented on the company. Seaport Global Securities reaffirmed a “buy” rating on shares of Old Dominion Freight Line in a research note on Friday, April 5th. BidaskClub cut Old Dominion Freight Line from a “hold” rating to a “sell” rating in a research note on Wednesday, May 29th. ValuEngine cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Bank of America lowered their price target on Old Dominion Freight Line from $157.00 to $144.00 and set a “neutral” rating for the company in a research note on Thursday, June 6th. Finally, Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $158.00 price target for the company in a research note on Monday, March 11th.

NASDAQ:ODFL traded up $1.09 on Friday, hitting $143.15. 10,636 shares of the stock were exchanged, compared to its average volume of 446,559. The firm has a market capitalization of $11.58 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 2.24 and a beta of 1.45. Old Dominion Freight Line has a 52 week low of $115.00 and a 52 week high of $170.22. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $141.25.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.58 by $0.06. The firm had revenue of $990.78 million during the quarter, compared to analysts’ expectations of $1 billion. Old Dominion Freight Line had a return on equity of 23.87% and a net margin of 15.32%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. Sell-side analysts predict that Old Dominion Freight Line will post 7.95 EPS for the current year.

Old Dominion Freight Line announced that its board has initiated a share repurchase program on Thursday, May 16th that allows the company to buyback $350.00 million in shares. This buyback authorization allows the transportation company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.68 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line’s payout ratio is 9.21%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc increased its stake in Old Dominion Freight Line by 2.4% in the third quarter. Vanguard Group Inc now owns 6,456,920 shares of the transportation company’s stock valued at $1,041,243,000 after purchasing an additional 153,943 shares during the period. Advisors Asset Management Inc. increased its stake in Old Dominion Freight Line by 14.4% in the fourth quarter. Advisors Asset Management Inc. now owns 27,464 shares of the transportation company’s stock valued at $3,392,000 after purchasing an additional 3,456 shares during the period. TD Asset Management Inc. increased its stake in Old Dominion Freight Line by 2.5% in the fourth quarter. TD Asset Management Inc. now owns 3,519 shares of the transportation company’s stock valued at $435,000 after purchasing an additional 86 shares during the period. BB&T Securities LLC increased its stake in Old Dominion Freight Line by 18.2% in the fourth quarter. BB&T Securities LLC now owns 4,527 shares of the transportation company’s stock valued at $559,000 after purchasing an additional 697 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Old Dominion Freight Line by 0.9% in the fourth quarter. Victory Capital Management Inc. now owns 96,857 shares of the transportation company’s stock valued at $11,960,000 after purchasing an additional 846 shares during the period. 71.24% of the stock is owned by institutional investors and hedge funds.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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