Old Dominion Freight Line (NASDAQ:ODFL) Announces Quarterly Earnings Results

Old Dominion Freight Line (NASDAQ:ODFL) issued its earnings results on Wednesday. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.03, Briefing.com reports. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. During the same period in the prior year, the firm earned $1.23 EPS. The company’s revenue was down 5.7% on a year-over-year basis.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock traded up $6.39 during trading hours on Wednesday, reaching $196.16. 475,186 shares of the stock traded hands, compared to its average volume of 1,957,696. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $209.61. The firm has a market capitalization of $41.02 billion, a price-to-earnings ratio of 39.01, a P/E/G ratio of 9.25 and a beta of 1.28. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average price of $162.54 and a 200 day moving average price of $150.74.

Institutional Trading of Old Dominion Freight Line

Several large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its holdings in Old Dominion Freight Line by 5.3% during the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at about $90,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at approximately $55,000. NorthRock Partners LLC grew its stake in shares of Old Dominion Freight Line by 33.0% during the 3rd quarter. NorthRock Partners LLC now owns 3,147 shares of the transportation company’s stock valued at $443,000 after acquiring an additional 780 shares during the period. Finally, Banque Cantonale Vaudoise increased its holdings in Old Dominion Freight Line by 6.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 2,284 shares of the transportation company’s stock worth $321,000 after acquiring an additional 146 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on ODFL shares. Robert W. Baird set a $170.00 price objective on Old Dominion Freight Line in a research report on Monday, January 5th. Wolfe Research set a $138.00 price target on Old Dominion Freight Line in a research note on Thursday, January 8th. BMO Capital Markets raised Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $172.00 to $170.00 in a report on Monday, December 1st. Stephens reiterated an “overweight” rating and issued a $190.00 price objective on shares of Old Dominion Freight Line in a report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $163.33.

Old Dominion Freight Line Company Profile

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.