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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given an average recommendation of “Hold” by the twenty analysts that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $202.78.

Several research analysts have recently commented on ODFL shares. UBS Group boosted their price target on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, July 25th. Morgan Stanley reduced their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a research report on Monday, July 8th. Evercore ISI reissued an “in-line” rating and issued a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. Finally, Barclays dropped their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 12th.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $190.62 on Thursday. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46. The firm has a market capitalization of $41.42 billion, a P/E ratio of 33.56, a P/E/G ratio of 3.92 and a beta of 1.00. The stock has a 50 day moving average price of $185.74 and a 200 day moving average price of $199.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 EPS. As a group, sell-side analysts predict that Old Dominion Freight Line will post 5.73 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.55%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Institutional Trading of Old Dominion Freight Line

Institutional investors have recently modified their holdings of the business. Trust Co. of Vermont purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Neo Ivy Capital Management purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $40,000. Farmers & Merchants Investments Inc. boosted its stake in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in Old Dominion Freight Line by 135.7% during the fourth quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after purchasing an additional 76 shares in the last quarter. 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.