Old Dominion Freight Line’s (ODFL) Neutral Rating Reaffirmed at Susquehanna

Susquehanna reiterated their neutral rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a report published on Tuesday, Marketbeat reports. They currently have a $195.00 target price on the transportation company’s stock, down from their prior target price of $218.00.

ODFL has been the topic of a number of other research reports. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their target price for the company from $209.00 to $197.00 in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Barclays raised their target price on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a report on Wednesday, November 13th. Robert W. Baird lowered their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $204.12.

Old Dominion Freight Line Trading Down 1.1 %

NASDAQ:ODFL opened at $180.64 on Tuesday. The stock has a market cap of $38.57 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s 50-day moving average is $204.29 and its two-hundred day moving average is $197.49.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.54 EPS. As a group, equities research analysts forecast that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a dividend of $0.26 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.58%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were 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 owns 7,383 shares in the company, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now owns 97,890 shares in the company, 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. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently made changes to their positions in ODFL. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line during the 2nd quarter worth about $25,000. Cullen Frost Bankers Inc. raised its stake in shares of Old Dominion Freight Line by 472.5% during the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 189 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line in the third quarter valued at approximately $45,000. Brown Brothers Harriman & Co. boosted its stake in Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 215 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $60,000. 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.