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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been assigned an average recommendation of “Hold” from the twenty ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $199.44.

Several research analysts recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. The Goldman Sachs Group decreased their target price on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a research report on Thursday, September 5th. TD Cowen reduced their price objective on Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research report on Friday, September 6th. Finally, BMO Capital Markets downgraded Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $214.00 to $210.00 in a report on Friday.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds have recently modified their holdings of the company. Sequoia Financial Advisors LLC boosted its holdings in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after buying an additional 1,017 shares during the period. Calton & Associates Inc. lifted its position in shares of Old Dominion Freight Line by 187.0% in the third quarter. Calton & Associates Inc. now owns 3,300 shares of the transportation company’s stock valued at $656,000 after acquiring an additional 2,150 shares in the last quarter. Evernest Financial Advisors LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth about $1,005,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Old Dominion Freight Line by 4.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 45,577 shares of the transportation company’s stock worth $9,053,000 after purchasing an additional 1,745 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in Old Dominion Freight Line by 3.4% during the 3rd quarter. Whittier Trust Co. now owns 91,514 shares of the transportation company’s stock valued at $18,178,000 after purchasing an additional 3,037 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 0.7 %

ODFL stock opened at $198.05 on Tuesday. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The company has a market capitalization of $43.03 billion, a price-to-earnings ratio of 34.87, a price-to-earnings-growth ratio of 4.24 and a beta of 0.99. The business’s 50 day moving average price is $195.53 and its two-hundred day moving average price is $191.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.33 earnings per share. As a group, analysts forecast that Old Dominion Freight Line will post 5.59 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Old Dominion Freight Line Company Profile

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.