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 assigned an average recommendation of “Hold” from the twenty-one brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $203.33.

A number of equities analysts have recently weighed in on ODFL shares. Stifel Nicolaus boosted their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Susquehanna restated a “neutral” rating and set a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a research report on Tuesday, January 7th. Jefferies Financial Group boosted their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Finally, Bank of America cut their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th.

Old Dominion Freight Line Stock Down 8.5 %

Shares of NASDAQ:ODFL opened at $180.40 on Monday. The firm has a market cap of $38.52 billion, a P/E ratio of 32.92, a P/E/G ratio of 2.89 and a beta of 1.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26. The business has a fifty day simple moving average of $188.96 and a 200 day simple moving average of $197.84.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 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 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently made changes to their positions in the business. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line in the 4th quarter worth $35,000. RPg Family Wealth Advisory LLC purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter worth about $45,000. Itau Unibanco Holding S.A. boosted its stake in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 192 shares during the period. Synergy Asset Management LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth about $41,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.