Old Dominion Freight Line (NASDAQ:ODFL) Given Overweight Rating at Stephens

Stephens reaffirmed their overweight rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research note issued to investors on Wednesday,Benzinga reports. Stephens currently has a $240.00 price target on the transportation company’s stock.

ODFL has been the subject of a number of other reports. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Evercore ISI dropped their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Bank of America dropped their price objective on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, Susquehanna lowered their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $201.94.

Old Dominion Freight Line Price Performance

ODFL stock opened at $211.03 on Wednesday. The business has a fifty day moving average of $207.67 and a two-hundred day moving average of $194.54. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a market cap of $45.05 billion, a price-to-earnings ratio of 37.77, a price-to-earnings-growth ratio of 4.70 and a beta of 1.00. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. The company’s revenue was down 3.0% on a year-over-year basis. As a group, research analysts anticipate that Old Dominion Freight Line will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Insider Activity

In other news, Director Leo H. Suggs sold 3,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the sale, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC increased its position in Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after acquiring an additional 50 shares during the period. Foundations Investment Advisors LLC increased its position in Old Dominion Freight Line by 0.6% in the 2nd quarter. Foundations Investment Advisors LLC now owns 9,124 shares of the transportation company’s stock valued at $1,611,000 after acquiring an additional 54 shares during the period. Advisors Asset Management Inc. increased its position in Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after acquiring an additional 55 shares during the period. Hantz Financial Services Inc. increased its position in Old Dominion Freight Line by 3.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock valued at $301,000 after acquiring an additional 56 shares during the period. Finally, Conning Inc. increased its position in Old Dominion Freight Line by 5.8% in the 2nd quarter. Conning Inc. now owns 1,164 shares of the transportation company’s stock valued at $206,000 after acquiring an additional 64 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.