Old Dominion Freight Line (NASDAQ:ODFL) Announces Quarterly Earnings Results

Old Dominion Freight Line (NASDAQ:ODFL) posted its quarterly earnings data on Wednesday. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06, Zacks reports. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%.

Old Dominion Freight Line Price Performance

ODFL stock traded up $12.85 during midday trading on Wednesday, hitting $196.51. 893,102 shares of the stock were exchanged, compared to its average volume of 1,378,660. The stock’s 50-day moving average price is $191.82 and its 200-day moving average price is $197.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $41.95 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ODFL has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Susquehanna reissued a “neutral” rating and issued a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. Stephens restated an “overweight” rating and set a $240.00 price target on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. Barclays lowered their price objective on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Bank of America cut their price objective on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $202.44.

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.