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

by · The Cerbat Gem

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Free Report) have earned a consensus recommendation of “Hold” from the twenty analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $201.83.

A number of brokerages have recently commented on ODFL. JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Bank of America reduced their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Robert W. Baird boosted their target price on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Susquehanna raised their price target on Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research report on Thursday, September 5th.

Check Out Our Latest Research Report on ODFL

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $194.75 on Friday. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $227.80. The stock has a fifty day moving average of $196.31 and a 200 day moving average of $194.57. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $42.32 billion, a price-to-earnings ratio of 34.29, a P/E/G ratio of 4.08 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. On average, research analysts expect that Old Dominion Freight Line will post 5.62 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s payout ratio is 18.31%.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s 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 sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Centaurus Financial Inc. grew its stake in shares of Old Dominion Freight Line by 36.1% in the 2nd quarter. Centaurus Financial Inc. now owns 3,669 shares of the transportation company’s stock worth $648,000 after buying an additional 973 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Old Dominion Freight Line by 22,575.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 219,948 shares of the transportation company’s stock worth $38,843,000 after acquiring an additional 218,978 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the second quarter worth $6,836,000. Clearbridge Investments LLC increased its holdings in shares of Old Dominion Freight Line by 39.1% during the second quarter. Clearbridge Investments LLC now owns 698,154 shares of the transportation company’s stock valued at $123,294,000 after acquiring an additional 196,350 shares in the last quarter. Finally, Heartland Bank & Trust Co raised its position in shares of Old Dominion Freight Line by 101.5% in the 2nd quarter. Heartland Bank & Trust Co now owns 3,136 shares of the transportation company’s stock worth $554,000 after purchasing an additional 1,580 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

(Get Free Report

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.

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