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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned an average recommendation of “Hold” from the twenty-eight analysts that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $160.7917.

ODFL has been the topic of several research reports. Zacks Research downgraded Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Bank of America raised their price objective on Old Dominion Freight Line from $147.00 to $149.00 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Citigroup reaffirmed a “buy” rating and set a $196.00 target price (up previously from $170.00) on shares of Old Dominion Freight Line in a research note on Wednesday, January 7th. Wells Fargo & Company reduced their target price on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research report on Thursday, October 30th. Finally, Robert W. Baird set a $170.00 price target on shares of Old Dominion Freight Line in a research report on Monday, January 5th.

Old Dominion Freight Line Stock Up 1.1%

Shares of NASDAQ ODFL opened at $173.52 on Thursday. The firm has a market cap of $36.28 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 8.43 and a beta of 1.27. The company’s 50-day simple moving average is $150.60 and its 200-day simple moving average is $149.83. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Equities analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is currently 22.54%.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Companies Inc. purchased a new stake in Old Dominion Freight Line in the 2nd quarter valued at $26,000. Westside Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 98 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares during the period. Rossby Financial LCC purchased a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $28,000. Finally, Raiffeisen Bank International AG acquired a new stake in Old Dominion Freight Line during the third quarter worth about $37,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.