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-one research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $200.00.

ODFL has been the topic of several recent research reports. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group decreased their target price on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the company from $209.00 to $197.00 in a research report on Monday, October 21st. Finally, Robert W. Baird reduced their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $214.33 on Friday. The company has a market cap of $45.76 billion, a P/E ratio of 37.47, a P/E/G ratio of 4.51 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26. The firm’s fifty day moving average price is $202.73 and its two-hundred day moving average price is $191.92.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results 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 the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 earnings per share. Equities analysts expect that Old Dominion Freight Line will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was 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. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,975 shares of company stock worth $10,062,478. 9.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line in the second quarter valued at $25,000. Atwood & Palmer Inc. grew its stake in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the period. Versant Capital Management Inc increased its holdings in Old Dominion Freight Line by 1,630.0% in the second quarter. Versant Capital Management Inc now owns 173 shares of the transportation company’s stock worth $31,000 after purchasing an additional 163 shares in the last quarter. LRI Investments LLC boosted its holdings in shares of Old Dominion Freight Line by 73.1% during the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after buying an additional 79 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the 1st quarter worth approximately $38,000. 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.