Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Free Report) have been given an average recommendation of “Hold” by the twenty-five analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $226.5455.
A number of analysts have issued reports on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price target on shares of Old Dominion Freight Line in a report on Thursday, June 4th. JPMorgan Chase & Co. raised their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $244.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, July 29th. Barclays boosted their target price on Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. Finally, Truist Financial increased their price target on Old Dominion Freight Line from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th.
Read Our Latest Analysis on Old Dominion Freight Line
Old Dominion Freight Line Stock Performance
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter last year, the business posted $1.27 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. Equities research analysts predict that Old Dominion Freight Line will post 5.78 earnings per share for the current year.
Old Dominion Freight Line Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is currently 22.35%.
Insider Buying and Selling at Old Dominion Freight Line
In other Old Dominion Freight Line news, SVP Cecil E. Jr. Overbey sold 19,952 shares of the stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president owned 22,746 shares in the company, valued at $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.20% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Bell Investment Advisors Inc purchased a new position in shares of Old Dominion Freight Line during the 2nd quarter worth about $25,000. Solstein Capital LLC purchased a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $26,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares in the last quarter. Reflection Asset Management purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $28,000. Finally, Evolution Wealth Management Inc. purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at $29,000. Institutional investors own 77.82% of the company’s stock.
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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