Old Dominion Freight Line (NASDAQ:ODFL) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a hold rating to a sell rating in a report published on Friday.

Several other equities research analysts have also weighed in on the company. Wells Fargo & Company cut their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets dropped their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. TD Cowen decreased their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. Robert W. Baird cut their target price on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Stephens reissued an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Stock Up 0.7 %

Shares of NASDAQ:ODFL opened at $197.20 on Friday. The firm has a market capitalization of $42.10 billion, a PE ratio of 35.99, a price-to-earnings-growth ratio of 5.30 and a beta of 1.05. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The firm’s 50-day moving average is $190.09 and its two-hundred day moving average is $197.75.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Analysts predict that Old Dominion Freight Line will post 5.69 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds have recently modified their holdings of ODFL. SevenBridge Financial Group LLC lifted its position in Old Dominion Freight Line by 2.0% during the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after buying an additional 50 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Old Dominion Freight Line by 0.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after acquiring an additional 55 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Old Dominion Freight Line by 3.6% during the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock worth $277,000 after acquiring an additional 55 shares during the period. D.A. Davidson & CO. boosted its position in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after acquiring an additional 55 shares during the last quarter. Finally, Evergreen Private Wealth LLC grew its holdings in Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock valued at $1,173,000 after purchasing an additional 59 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

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.