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

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned a consensus rating of “Hold” from the twenty-three research firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $167.1429.

Several analysts have weighed in on ODFL shares. Citigroup lowered their target price on Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating on the stock in a report on Wednesday. Vertical Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Thursday, July 31st. Benchmark restated a “hold” rating and issued a $102.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Baird R W upgraded Old Dominion Freight Line to a “hold” rating in a report on Tuesday, July 1st. Finally, TD Cowen dropped their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a report on Thursday, July 31st.

Old Dominion Freight Line Trading Up 2.1%

ODFL opened at $149.40 on Friday. The firm has a market cap of $31.40 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 3.40 and a beta of 1.23. Old Dominion Freight Line has a 52 week low of $140.71 and a 52 week high of $233.26. The business’s 50 day moving average is $155.37 and its two-hundred day moving average is $160.01. 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 released its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter last year, the company earned $1.48 EPS. Old Dominion Freight Line’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line’s dividend payout ratio is presently 21.88%.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC raised its position in Old Dominion Freight Line by 234.8% during the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after buying an additional 108 shares during the period. Financial Gravity Companies Inc. acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at about $26,000. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line in the 2nd quarter valued at approximately $28,000. American National Bank & Trust bought a new position in Old Dominion Freight Line in the 1st quarter worth approximately $30,000. Finally, Wayfinding Financial LLC bought a new position in shares of Old Dominion Freight Line during the 1st quarter worth about $39,000. 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.