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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received a consensus recommendation of “Hold” from the twenty research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $201.00.

ODFL has been the subject of several recent research reports. Susquehanna dropped their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, June 12th. Stephens reissued an “overweight” rating and set a $214.00 price objective on shares of Old Dominion Freight Line in a report on Thursday. Raymond James boosted their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, BMO Capital Markets increased their price target on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. 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 hedge funds and other institutional investors have recently made changes to their positions in ODFL. Vanguard Group Inc. grew its stake in shares of Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after buying an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after buying an additional 7,401,526 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Old Dominion Freight Line by 94.6% in the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after buying an additional 2,888,205 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Old Dominion Freight Line by 59.0% in the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares in the last quarter. Finally, Capital World Investors lifted its holdings in Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $184.82 on Monday. The stock has a market capitalization of $40.16 billion, a P/E ratio of 32.54, a P/E/G ratio of 3.76 and a beta of 1.00. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $227.80. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $194.08 and a two-hundred day moving average price of $197.55.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data 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. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.33 EPS. Equities analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

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.