Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Free Report) have been assigned a consensus recommendation of “Hold” from the twenty-six brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $217.3043.
A number of analysts have recently issued reports on ODFL shares. TD Cowen reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Argus increased their price target on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday. Jefferies Financial Group increased their price target on shares of Old Dominion Freight Line from $230.00 to $250.00 and gave the stock a “hold” rating in a research report on Tuesday, June 9th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th. Finally, Wolfe Research increased their price target on shares of Old Dominion Freight Line from $183.00 to $185.00 and gave the stock an “underperform” rating in a research report on Tuesday, April 7th.
Read Our Latest Stock Analysis on ODFL
Insider Activity
Institutional Trading of Old Dominion Freight Line
A number of hedge funds have recently made changes to their positions in ODFL. Brighton Jones LLC increased its holdings in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock worth $275,000 after buying an additional 79 shares during the last quarter. Empowered Funds LLC increased its holdings in Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after buying an additional 5,866 shares during the last quarter. Marshall Wace LLP acquired a new position in Old Dominion Freight Line in the second quarter worth approximately $7,478,000. Jump Financial LLC acquired a new position in Old Dominion Freight Line in the second quarter worth approximately $2,891,000. Finally, AXA S.A. increased its holdings in Old Dominion Freight Line by 1.2% in the second quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock worth $3,287,000 after buying an additional 238 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.
Old Dominion Freight Line Stock Performance
ODFL stock opened at $221.04 on Friday. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $252.03. The firm has a market capitalization of $45.97 billion, a PE ratio of 46.24, a P/E/G ratio of 4.44 and a beta of 1.17. The firm has a 50-day moving average of $217.66 and a two-hundred day moving average of $192.73.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was down 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line will post 5.43 earnings per share for the current year.
Old Dominion Freight Line Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Wednesday, June 3rd. Old Dominion Freight Line’s dividend payout ratio is 24.27%.
Old Dominion Freight Line Company Profile
Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.
The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.
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