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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has received an average rating of “Hold” from the twenty-six ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $220.00.

ODFL has been the topic of several analyst reports. UBS Group increased their target price on Old Dominion Freight Line from $216.00 to $224.00 and gave the stock a “neutral” rating in a research report on Tuesday. Susquehanna boosted their price target on shares of Old Dominion Freight Line from $205.00 to $224.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Finally, Stifel Nicolaus increased their price objective on shares of Old Dominion Freight Line from $228.00 to $232.00 in a report on Thursday, April 30th.

Old Dominion Freight Line Trading Up 1.3%

Shares of Old Dominion Freight Line stock opened at $218.25 on Thursday. The business’s 50 day simple moving average is $218.29 and its 200-day simple moving average is $198.94. The stock has a market capitalization of $45.39 billion, a price-to-earnings ratio of 45.66, a PEG ratio of 3.93 and a beta of 1.18. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $1.19 EPS. The business’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts predict that Old Dominion Freight Line will post 5.51 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a $0.29 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $1.16 annualized dividend and a yield of 0.5%. Old Dominion Freight Line’s dividend payout ratio is 24.27%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% 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. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Annis Gardner Whiting Capital Advisors LLC increased its position in Old Dominion Freight Line by 80.5% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the period. Reflection Asset Management bought a new stake in Old Dominion Freight Line during the 4th quarter valued at $28,000. Evolution Wealth Management Inc. bought a new stake in Old Dominion Freight Line during the 1st quarter valued at $29,000. DT Investment Partners LLC boosted its position in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after acquiring an additional 180 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Old Dominion Freight Line during the 1st quarter worth $39,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

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.