Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 1-Year High – Still a Buy?

Old Dominion Freight Line, Inc. (NASDAQ:ODFL)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $249.14 and last traded at $245.9580, with a volume of 547125 shares trading hands. The stock had previously closed at $245.52.

Analysts Set New Price Targets

ODFL has been the subject of several research analyst reports. Truist Financial set a $225.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. BMO Capital Markets restated an “outperform” rating and issued a $230.00 price target on shares of Old Dominion Freight Line in a research report on Thursday. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday. Barclays set a $210.00 price target on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, Robert W. Baird set a $229.00 price target on shares of Old Dominion Freight Line and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $208.33.

Old Dominion Freight Line Price Performance

The stock’s 50 day simple moving average is $208.81 and its 200-day simple moving average is $185.09. The stock has a market capitalization of $50.69 billion, a price-to-earnings ratio of 51.00, a PEG ratio of 4.81 and a beta of 1.17.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $1.19 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Old Dominion Freight Line, Inc. will post 5.35 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date is Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is presently 24.27%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total value of $4,233,932.64. Following the sale, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Large investors have recently made changes to their positions in the company. Bogart Wealth LLC raised its position in Old Dominion Freight Line by 9.9% in the 1st quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock worth $100,000 after purchasing an additional 46 shares during the last quarter. Private Advisor Group LLC raised its position in Old Dominion Freight Line by 1.3% in the 1st quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after purchasing an additional 55 shares during the last quarter. Keybank National Association OH raised its position in Old Dominion Freight Line by 2.3% in the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock worth $479,000 after purchasing an additional 56 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock worth $101,000 after purchasing an additional 57 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in Old Dominion Freight Line by 1.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock worth $812,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

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.