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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned a consensus recommendation of “Hold” from the twenty-six research firms that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $190.50.

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price objective for the company. in a research report on Thursday, February 5th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Old Dominion Freight Line in a research note on Thursday, February 19th. Argus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a research report on Thursday, February 12th. Wolfe Research set a $138.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, January 8th. Finally, Evercore boosted their price target on shares of Old Dominion Freight Line from $150.00 to $200.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Bradley R. Gabosch sold 3,134 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the transaction, the director owned 11,278 shares in the company, valued at approximately $2,190,977.06. The trade was a 21.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David S. Congdon sold 52,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the transaction, the chairman directly owned 712,800 shares in the company, valued at approximately $138,832,056. This represents a 6.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is currently owned by company insiders.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently bought and sold shares of the business. Worthington Financial Partners LLC acquired a new position in Old Dominion Freight Line in the 4th quarter worth $599,000. Rehmann Capital Advisory Group acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $203,000. Reflection Asset Management bought a new stake in shares of Old Dominion Freight Line in the fourth quarter worth $28,000. Pacer Advisors Inc. boosted its holdings in Old Dominion Freight Line by 2.6% during the fourth quarter. Pacer Advisors Inc. now owns 30,469 shares of the transportation company’s stock worth $4,778,000 after purchasing an additional 766 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in Old Dominion Freight Line by 251.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 19,300 shares of the transportation company’s stock valued at $3,026,000 after purchasing an additional 13,805 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $210.68 on Friday. Old Dominion Freight Line has a 52 week low of $126.01 and a 52 week high of $221.63. The stock has a market capitalization of $43.91 billion, a PE ratio of 43.62, a PEG ratio of 10.77 and a beta of 1.23. The stock’s fifty day moving average is $183.31 and its 200-day moving average is $157.72.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be given a $0.29 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.16 annualized dividend and a dividend yield of 0.6%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s dividend payout ratio is 24.02%.

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.