Old Dominion Freight Line (NASDAQ:ODFL) Earns Sell Rating from Analysts at Rothschild & Co Redburn

Rothschild & Co Redburn began coverage on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research note published on Wednesday, Marketbeat.com reports. The brokerage issued a sell rating and a $114.00 price target on the transportation company’s stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley cut their target price on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 31st. UBS Group lifted their price objective on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Wells Fargo & Company reduced their price objective on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a research note on Thursday, October 30th. Evercore ISI lowered their target price on Old Dominion Freight Line from $143.00 to $139.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. Finally, Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the company a “neutral” rating in a report on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of “Hold” and an average target price of $157.27.

Old Dominion Freight Line Trading Up 0.2%

Shares of NASDAQ ODFL opened at $135.21 on Wednesday. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $227.00. The firm has a market cap 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 business has a fifty day simple moving average of $137.50 and a two-hundred day simple moving average of $150.79. The company has a quick ratio of 1.38, a current ratio of 1.20 and a debt-to-equity ratio of 0.02.

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

Old Dominion Freight Line Dividend Announcement

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

Institutional Investors Weigh In On Old Dominion Freight Line

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

Old Dominion Freight Line Company Profile

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.