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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been given an average rating of “Hold” by the twenty-six ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $206.2917.

ODFL has been the subject of a number of recent research reports. Morgan Stanley set a $235.00 target price on Old Dominion Freight Line and gave the company an “overweight” rating in a report on Thursday, April 30th. Rothschild & Co Redburn decreased their target price on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. Argus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 target price for the company in a report on Thursday, February 12th. Barclays set a $210.00 price target on Old Dominion Freight Line and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Finally, Stephens reaffirmed an “overweight” rating and set a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the sale, the insider directly owned 2,162,113 shares of the company’s stock, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated 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 directly owned 88,551 shares of the company’s stock, valued at $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.00% of the stock is owned by insiders.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Old Dominion Freight Line by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock worth $3,273,546,000 after buying an additional 494,674 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Old Dominion Freight Line by 14.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,223,960 shares of the transportation company’s stock worth $2,230,318,000 after buying an additional 1,761,511 shares during the last quarter. State Street Corp lifted its holdings in Old Dominion Freight Line by 0.9% during the 4th quarter. State Street Corp now owns 7,746,286 shares of the transportation company’s stock worth $1,214,618,000 after buying an additional 70,736 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Old Dominion Freight Line by 21.6% during the third quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock worth $614,764,000 after purchasing an additional 776,004 shares in the last quarter. Finally, Boston Partners increased its position in shares of Old Dominion Freight Line by 98.4% during the fourth quarter. Boston Partners now owns 4,122,696 shares of the transportation company’s stock worth $648,186,000 after purchasing an additional 2,044,434 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Trading Up 2.9%

NASDAQ:ODFL opened at $216.61 on Wednesday. The firm has a market cap of $45.05 billion, a PE ratio of 45.32, a price-to-earnings-growth ratio of 4.31 and a beta of 1.17. The stock has a fifty day moving average price of $202.49 and a 200 day moving average price of $180.56. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.Old Dominion Freight Line’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the business posted $1.19 earnings per share. Equities analysts forecast that Old Dominion Freight Line will post 5.32 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is 24.27%.

About Old Dominion Freight Line

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.