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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned a consensus rating of “Hold” from the twenty-eight brokerages that are currently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $162.7083.

Several research firms have issued reports on ODFL. TD Cowen increased their price objective on Old Dominion Freight Line from $154.00 to $167.00 and gave the stock a “hold” rating in a research note on Friday, January 9th. Zacks Research cut shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Jefferies Financial Group upped their price objective on shares of Old Dominion Freight Line from $150.00 to $160.00 and gave the stock a “hold” rating in a research note on Friday, December 19th. Finally, Bank of America raised their price objective on shares of Old Dominion Freight Line from $147.00 to $149.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Financial Gravity Companies Inc. acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at $26,000. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line in the second quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after purchasing an additional 123 shares during the last quarter. Westside Investment Management Inc. lifted its position in Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.4%

NASDAQ ODFL opened at $175.65 on Thursday. Old Dominion Freight Line has a 1-year low of $126.01 and a 1-year high of $209.61. The company has a market capitalization of $36.73 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 8.73 and a beta of 1.27. The stock’s 50 day moving average is $152.89 and its two-hundred day moving average is $149.88. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.Old Dominion Freight Line’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 EPS. Equities analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 22.54%.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.