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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned a consensus rating of “Hold” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $212.59.

ODFL has been the subject of several recent analyst reports. Barclays lowered their price target on Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, April 4th. The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. decreased their target price on Old Dominion Freight Line from $233.00 to $231.00 and set a “neutral” rating for the company in a research report on Tuesday. Susquehanna boosted their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Finally, Bank of America reissued a “neutral” rating and issued a $223.00 target price (up previously from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th.

Old Dominion Freight Line Price Performance

ODFL opened at $222.52 on Friday. The stock has a 50-day moving average price of $220.18 and a 200-day moving average price of $205.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market cap of $48.44 billion, a PE ratio of 39.52, a P/E/G ratio of 3.21 and a beta of 1.02. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. The firm 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 31.18% and a net margin of 21.13%. Old Dominion Freight Line’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Sell-side analysts predict that Old Dominion Freight Line will post 6.38 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s payout ratio is currently 18.47%.

Insider Activity

In other news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the sale, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ODFL. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Old Dominion Freight Line by 4,027.8% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,486 shares of the transportation company’s stock valued at $444,000 after acquiring an additional 1,450 shares during the period. Cibc World Market Inc. grew its stake in shares of Old Dominion Freight Line by 2.8% during the 1st quarter. Cibc World Market Inc. now owns 1,846 shares of the transportation company’s stock valued at $551,000 after acquiring an additional 50 shares during the period. Sei Investments Co. grew its stake in shares of Old Dominion Freight Line by 5.5% during the 1st quarter. Sei Investments Co. now owns 54,600 shares of the transportation company’s stock valued at $16,294,000 after acquiring an additional 2,854 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Old Dominion Freight Line by 29.8% during the 1st quarter. Allianz Asset Management GmbH now owns 26,717 shares of the transportation company’s stock valued at $7,979,000 after acquiring an additional 6,133 shares during the period. Finally, Prudential PLC bought a new position in shares of Old Dominion Freight Line during the 1st quarter valued at approximately $758,000. 77.82% of the stock is currently owned by 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.