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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given a consensus rating of “Hold” by the twenty-six brokerages that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $190.50.

A number of analysts have weighed in on the stock. Citigroup reissued a “neutral” rating and issued a $216.00 price target (up from $196.00) on shares of Old Dominion Freight Line in a report on Friday, February 6th. The Goldman Sachs Group restated a “buy” rating and issued a $195.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Argus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price target on the stock in a research note on Thursday, February 12th. Stifel Nicolaus set a $217.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Finally, Raymond James Financial lifted their target price on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, February 6th.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 52,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the completion of the transaction, the chairman directly owned 712,800 shares of the company’s stock, valued at approximately $138,832,056. This trade represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director owned 11,278 shares in the company, valued at $2,190,977.06. This represents a 21.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 80,134 shares of company stock valued at $15,640,132 in the last 90 days. 10.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds have recently made changes to their positions in ODFL. Financial Gravity Companies Inc. bought a new stake in Old Dominion Freight Line during the second quarter worth about $26,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 123 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after acquiring an additional 98 shares in the last quarter. Reflection Asset Management bought a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $28,000. Finally, DT Investment Partners LLC increased its holdings in Old Dominion Freight Line by 600.0% during the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 2.5%

ODFL opened at $210.68 on Friday. The stock’s 50 day moving average price is $183.31 and its two-hundred day moving average price is $157.72. The firm has a market capitalization of $43.91 billion, a P/E ratio of 43.62, a price-to-earnings-growth ratio of 10.77 and a beta of 1.23. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.Old Dominion Freight Line’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.23 earnings per share. As a group, analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. Old Dominion Freight Line’s payout ratio is currently 24.02%.

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.