Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Given Consensus Recommendation of “Hold” by Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given a consensus recommendation of “Hold” by the twenty-three ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $159.3333.

A number of equities research analysts have recently commented on ODFL shares. TD Cowen lowered their price target on shares of Old Dominion Freight Line from $159.00 to $154.00 in a report on Thursday. Susquehanna lifted their price target on shares of Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Wells Fargo & Company lowered their price target on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating for the company in a report on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of Old Dominion Freight Line in a report on Wednesday, October 8th. Finally, Vertical Research upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 price target for the company in a report on Thursday, July 31st.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its holdings in Old Dominion Freight Line by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,110 shares of the transportation company’s stock valued at $1,507,000 after purchasing an additional 443 shares during the period. Golden State Wealth Management LLC grew its stake in Old Dominion Freight Line by 29.0% during the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the transportation company’s stock worth $395,000 after buying an additional 537 shares during the period. Wilkinson Global Asset Management LLC grew its stake in Old Dominion Freight Line by 6.0% during the first quarter. Wilkinson Global Asset Management LLC now owns 107,819 shares of the transportation company’s stock worth $17,839,000 after buying an additional 6,133 shares during the period. Concurrent Investment Advisors LLC purchased a new stake in Old Dominion Freight Line during the first quarter worth approximately $454,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Old Dominion Freight Line by 9.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 352,395 shares of the transportation company’s stock worth $58,304,000 after buying an additional 30,328 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $140.42 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The stock has a market cap of $29.51 billion, a P/E ratio of 28.25, a PEG ratio of 3.22 and a beta of 1.19. The company has a 50-day moving average of $142.87 and a two-hundred day moving average of $153.49. Old Dominion Freight Line has a 12-month low of $133.69 and a 12-month high of $233.26.

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

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 21.88%.

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.