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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given an average rating of “Hold” by the twenty brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $204.00.

A number of equities research analysts have weighed in on ODFL shares. BMO Capital Markets decreased their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday. Susquehanna dropped their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research report on Thursday, October 24th. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Barclays increased their price objective on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $200.69 on Wednesday. The firm has a market cap of $42.85 billion, a P/E ratio of 35.09, a PEG ratio of 4.29 and a beta of 1.00. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $209.13 and a 200 day moving average of $196.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $1.54 earnings per share. As a group, research analysts expect that Old Dominion Freight Line will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by company insiders.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line during the second quarter valued at approximately $25,000. LRI Investments LLC raised its position in Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth $45,000. Cullen Frost Bankers Inc. grew its position in shares of Old Dominion Freight Line by 472.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 189 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.