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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has received an average rating of “Hold” from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $209.08.

A number of analysts recently issued reports on ODFL shares. Barclays lowered their target price on Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 25th. Bank of America cut their target price on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Raymond James boosted their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. The Goldman Sachs Group increased their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Susquehanna boosted their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research note on Thursday, February 8th.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction on 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 sale, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ODFL. Fortitude Family Office LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $27,000. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line in the fourth quarter worth $27,000. Raleigh Capital Management Inc. bought a new position in Old Dominion Freight Line in the fourth quarter valued at $29,000. Headinvest LLC purchased a new stake in Old Dominion Freight Line during the third quarter valued at about $30,000. Finally, Sound Income Strategies LLC bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $34,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $184.24 on Tuesday. The company has a fifty day moving average price of $219.52 and a 200 day moving average price of $206.13. Old Dominion Freight Line has a 1-year low of $147.90 and a 1-year high of $227.80. The firm has a market cap of $40.10 billion, a PE ratio of 32.44, a PEG ratio of 2.85 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Research analysts predict that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. Old Dominion Freight Line’s payout ratio is 18.31%.

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.