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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned a consensus rating of “Hold” from the twenty-six ratings firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $217.3043.

Several equities research analysts have commented on ODFL shares. Rothschild & Co Redburn reduced their target price on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. UBS Group boosted their price objective on shares of Old Dominion Freight Line from $202.00 to $216.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. BMO Capital Markets reiterated an “outperform” rating and set a $230.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Stephens reissued an “overweight” rating and issued a $240.00 price target (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Finally, Wolfe Research upped their price target on Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 7th.

Old Dominion Freight Line Trading Up 1.2%

Shares of ODFL opened at $221.04 on Friday. The stock has a 50 day simple moving average of $217.39 and a 200-day simple moving average of $192.53. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $252.03. The stock has a market cap of $45.97 billion, a PE ratio of 46.24, a PEG ratio of 4.42 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last posted 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 company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. Old Dominion Freight Line’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.19 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line will post 5.38 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is currently 24.27%.

Insider Activity

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 shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares of the company’s stock, 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 SEC, which is available through this hyperlink. Insiders own 10.00% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC increased its position in Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Evolution Wealth Management Inc. acquired a new position in shares of Old Dominion Freight Line during the 1st quarter worth $29,000. Reflection Asset Management bought a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $28,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth $39,000. Finally, DT Investment Partners LLC boosted its holdings in shares of Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 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.