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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned a consensus rating of “Hold” from the twenty-four brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $166.5238.

Several analysts have recently weighed in on ODFL shares. Susquehanna increased their price target on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. Barclays lowered their price objective on 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. Baird R W upgraded Old Dominion Freight Line to a “hold” rating in a research report on Tuesday, July 1st. Benchmark reiterated a “hold” rating and set a $102.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Finally, UBS Group boosted their price objective on shares of Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a report on Friday.

Old Dominion Freight Line Stock Up 1.1%

Shares of NASDAQ:ODFL opened at $142.82 on Tuesday. Old Dominion Freight Line has a 52-week low of $133.69 and a 52-week high of $233.26. The stock has a market cap of $30.02 billion, a P/E ratio of 27.89, a PEG ratio of 3.30 and a beta of 1.19. The business has a fifty day moving average of $147.15 and a two-hundred day moving average of $156.42. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same period in the previous year, the firm posted $1.48 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. On average, research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Wednesday, September 3rd. Old Dominion Freight Line’s dividend payout ratio is 21.88%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Old Dominion Freight Line by 5.3% in 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. Merit Financial Group LLC boosted its position in Old Dominion Freight Line by 23.9% in the 1st quarter. Merit Financial Group LLC now owns 1,928 shares of the transportation company’s stock valued at $319,000 after buying an additional 372 shares during the period. Wedmont Private Capital grew its stake in shares of Old Dominion Freight Line by 2.5% in the first quarter. Wedmont Private Capital now owns 3,722 shares of the transportation company’s stock worth $567,000 after acquiring an additional 90 shares in the last quarter. UMB Bank n.a. increased its position in shares of Old Dominion Freight Line by 20.8% during the first quarter. UMB Bank n.a. now owns 888 shares of the transportation company’s stock worth $147,000 after acquiring an additional 153 shares during the period. Finally, City Holding Co. raised its stake in shares of Old Dominion Freight Line by 1.1% in the first quarter. City Holding Co. now owns 7,104 shares of the transportation company’s stock valued at $1,175,000 after acquiring an additional 75 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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.