Old Dominion Freight Line (NASDAQ:ODFL) Shares Up 4.4% – Time to Buy?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL)’s stock price was up 4.4% during mid-day trading on Monday . The stock traded as high as $140.66 and last traded at $141.2460. Approximately 178,341 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,904,101 shares. The stock had previously closed at $135.29.

Analyst Ratings Changes

Several research firms recently weighed in on ODFL. Rothschild Redb upgraded Old Dominion Freight Line to a “strong sell” rating in a research report on Wednesday, November 26th. UBS Group upped their target price on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Barclays lowered their price target on shares of Old Dominion Freight Line from $155.00 to $150.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 1st. JPMorgan Chase & Co. upped their price objective on shares of Old Dominion Freight Line from $143.00 to $144.00 and gave the stock a “neutral” rating in a report on Thursday, October 30th. Finally, Stephens decreased their target price on shares of Old Dominion Freight Line from $162.00 to $156.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Nine investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $157.83.

Old Dominion Freight Line Trading Up 5.3%

The firm’s 50 day moving average price is $137.50 and its 200-day moving average price is $150.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.38. The stock has a market cap of $29.79 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.22 and a beta of 1.22.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business earned $1.43 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio is currently 22.54%.

Institutional Investors Weigh In On Old Dominion Freight Line

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth $371,961,000. Boston Partners bought a new position in Old Dominion Freight Line in the third quarter valued at about $292,599,000. Two Sigma Investments LP boosted its position in Old Dominion Freight Line by 637.5% in the third quarter. Two Sigma Investments LP now owns 1,576,470 shares of the transportation company’s stock worth $221,935,000 after purchasing an additional 1,362,697 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Old Dominion Freight Line by 79.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock valued at $430,006,000 after purchasing an additional 1,151,221 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Old Dominion Freight Line during the 1st quarter valued at about $151,107,000. 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.