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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned an average recommendation of “Hold” from the twenty analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $204.00.

ODFL has been the subject of several recent research reports. The Goldman Sachs Group boosted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. BMO Capital Markets lowered their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a report on Thursday, October 24th. TD Cowen lowered their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. increased their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th.

Old Dominion Freight Line Trading Up 2.9 %

Shares of ODFL opened at $180.91 on Friday. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The company’s fifty day simple moving average is $205.07 and its 200-day simple moving average is $197.23. The company has a market cap of $38.62 billion, a P/E ratio of 31.63, a P/E/G ratio of 4.21 and a beta of 1.05. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business posted $1.54 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after purchasing an additional 279,946 shares during the period. Geode Capital Management LLC grew its holdings in Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Wellington Management Group LLP lifted its stake in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Old Dominion Freight Line by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after buying an additional 57,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Old Dominion Freight Line by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock worth $239,096,000 after buying an additional 78,587 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.