Old Dominion Freight Line (NASDAQ:ODFL) Given Hold Rating at Benchmark

Benchmark restated their hold rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a report published on Thursday, Benzinga reports.

A number of other analysts have also recently commented on ODFL. Vertical Research upgraded shares of Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 price target on the stock in a research note on Monday, April 29th. Barclays reduced their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating for the company in a research report on Wednesday, June 12th. Morgan Stanley cut their target price on Old Dominion Freight Line from $174.00 to $168.00 and set an equal weight rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. increased their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a neutral rating in a report on Thursday. Finally, UBS Group boosted their price objective on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a neutral rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $202.78.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $202.93 on Thursday. The company has a current ratio of 1.46, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $180.27 and its 200 day simple moving average is $198.82. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80. The company has a market cap of $44.09 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 3.89 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the company earned $1.33 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts forecast that Old Dominion Freight Line will post 5.73 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Chevy Chase Trust Holdings LLC raised its position in shares of Old Dominion Freight Line by 98.3% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after acquiring an additional 50,019 shares in the last quarter. Forsta AP Fonden lifted its position in Old Dominion Freight Line by 65.0% during the first quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock valued at $8,685,000 after buying an additional 15,600 shares during the period. Sei Investments Co. grew its position in shares of Old Dominion Freight Line by 98.6% in the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after buying an additional 21,438 shares during the period. Diversified Trust Co increased its stake in shares of Old Dominion Freight Line by 162.9% in the 1st quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock worth $1,612,000 after acquiring an additional 4,554 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Old Dominion Freight Line by 85.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 214,954 shares of the transportation company’s stock worth $47,041,000 after acquiring an additional 99,228 shares in the last quarter. Hedge funds and other institutional investors 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.