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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned an average recommendation of “Hold” from the twenty-one analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $180.42.

ODFL has been the subject of a number of recent research reports. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $190.00 to $200.00 in a report on Monday, June 2nd. UBS Group lowered their price target on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Stephens reiterated an “overweight” rating and set a $180.00 price target (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th. Barclays lowered their price target on shares of Old Dominion Freight Line from $185.00 to $170.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, Bank of America lifted their price target on shares of Old Dominion Freight Line from $167.00 to $183.00 and gave the stock a “neutral” rating in a report on Friday, May 16th.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $160.33 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $158.79 and a two-hundred day moving average price of $177.66. Old Dominion Freight Line has a twelve month low of $144.90 and a twelve month high of $233.26. The company has a market capitalization of $33.88 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 2.89 and a beta of 1.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the firm posted $1.34 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 21.01%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in Old Dominion Freight Line during the first quarter valued at approximately $20,053,000. Focus Partners Wealth lifted its position in Old Dominion Freight Line by 50.4% during the first quarter. Focus Partners Wealth now owns 41,973 shares of the transportation company’s stock valued at $6,944,000 after buying an additional 14,067 shares in the last quarter. Flaharty Asset Management LLC acquired a new position in Old Dominion Freight Line during the first quarter valued at approximately $59,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Old Dominion Freight Line by 5.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,325,953 shares of the transportation company’s stock valued at $219,379,000 after buying an additional 63,383 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in Old Dominion Freight Line by 134.9% during the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after buying an additional 5,866 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

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.