Old Dominion Freight Line (NASDAQ:ODFL) Upgraded at Rothschild Redb

Rothschild Redb upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) to a strong sell rating in a research note published on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on the company. Wolfe Research raised their target price on Old Dominion Freight Line from $129.00 to $140.00 in a research note on Tuesday, October 7th. Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Evercore ISI reduced their price objective on shares of Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating on the stock in a report on Thursday, October 30th. Morgan Stanley lowered their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, July 31st. Finally, Citigroup began coverage on shares of Old Dominion Freight Line in a research report on Wednesday. They set a “buy” rating for the company. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus target price of $157.27.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $135.21 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. The company has a market capitalization of $28.27 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 3.22 and a beta of 1.22. The firm’s 50-day moving average is $137.50 and its two-hundred day moving average is $150.79. Old Dominion Freight Line has a 12 month low of $126.01 and a 12 month high of $227.00.

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

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 22.54%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Brighton Jones LLC boosted its position in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after buying an additional 79 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of Old Dominion Freight Line by 12.8% in the first quarter. Avantax Advisory Services Inc. now owns 3,572 shares of the transportation company’s stock valued at $591,000 after acquiring an additional 404 shares in the last quarter. Cetera Investment Advisers boosted its holdings in Old Dominion Freight Line by 6.3% in the first quarter. Cetera Investment Advisers now owns 26,969 shares of the transportation company’s stock valued at $4,462,000 after purchasing an additional 1,597 shares during the period. Mackenzie Financial Corp grew its stake in Old Dominion Freight Line by 14.0% during the 1st quarter. Mackenzie Financial Corp now owns 21,878 shares of the transportation company’s stock worth $3,620,000 after purchasing an additional 2,691 shares in the last quarter. Finally, Norden Group LLC grew its stake in Old Dominion Freight Line by 6.5% during the 1st quarter. Norden Group LLC now owns 1,508 shares of the transportation company’s stock worth $250,000 after purchasing an additional 92 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.