Old Dominion Freight Line (NASDAQ:ODFL) Announces Earnings Results, Beats Expectations By $0.01 EPS

Old Dominion Freight Line (NASDAQ:ODFL) released its quarterly earnings results on Wednesday. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01, reports. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $182.42 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a twelve month low of $147.90 and a twelve month high of $227.80. The stock has a market cap of $39.71 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 3.07 and a beta of 1.02. The company’s fifty day moving average is $220.06 and its 200 day moving average is $206.41.

Old Dominion Freight Line Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insider Activity at Old Dominion Freight Line

In other news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the sale, the director now directly owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ODFL. Sib LLC lifted its stake in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Sib LLC now owns 165,172 shares of the transportation company’s stock valued at $36,224,000 after buying an additional 82,586 shares in the last quarter. Conning Inc. purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at approximately $241,000. K.J. Harrison & Partners Inc lifted its stake in shares of Old Dominion Freight Line by 103.2% during the 1st quarter. K.J. Harrison & Partners Inc now owns 3,658 shares of the transportation company’s stock valued at $802,000 after buying an additional 1,858 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Old Dominion Freight Line by 100.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 3,190 shares of the transportation company’s stock valued at $700,000 after buying an additional 1,598 shares in the last quarter. Finally, Trueblood Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at approximately $210,000. 77.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on ODFL. UBS Group upped their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays reduced their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday. TD Cowen reduced their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday. Susquehanna upped their price objective 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. Finally, Raymond James upped their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $210.97.

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.