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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $200.55.

Several research analysts have commented on ODFL shares. JPMorgan Chase & Co. decreased their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Susquehanna decreased their target price on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a research report on Wednesday, June 12th. BMO Capital Markets initiated coverage on shares of Old Dominion Freight Line in a research report on Wednesday, June 5th. They set an “outperform” rating and a $210.00 price target for the company. TD Cowen decreased their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Finally, Evercore ISI reissued an “in-line” rating and issued a $196.00 target price (down previously from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the period. Bank of New York Mellon Corp grew its position in shares of Old Dominion Freight Line by 94.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares during the period. Capital Research Global Investors increased its stake in shares of Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after acquiring an additional 2,447,121 shares in the last quarter. Finally, Capital World Investors lifted its position in Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after acquiring an additional 1,228,116 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 1.6 %

NASDAQ ODFL opened at $195.46 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $178.48 and its two-hundred day simple moving average is $198.69. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a market capitalization of $42.47 billion, a price-to-earnings ratio of 34.41, a PEG ratio of 2.68 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Research analysts forecast that Old Dominion Freight Line will post 5.9 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Old Dominion Freight Line’s payout ratio is currently 18.31%.

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.