Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives Average Recommendation of "Hold" from Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) has earned a consensus recommendation of "Hold" from the twenty analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $202.88.

ODFL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Susquehanna reduced their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus downgraded Old Dominion Freight Line from a "buy" rating to a "hold" rating and decreased their price target for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Stephens restated an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. Finally, TD Cowen decreased their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a research report on Thursday, October 24th.

Old Dominion Freight Line Stock Down 0.1 %

Shares of NASDAQ ODFL traded down $0.28 during midday trading on Wednesday, reaching $204.81. 1,874,967 shares of the company's stock were exchanged, compared to its average volume of 1,531,766. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a 52-week low of $165.49 and a 52-week high of $233.26. The business's fifty day moving average price is $208.72 and its two-hundred day moving average price is $195.69. The stock has a market capitalization of $43.73 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 4.25 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Old Dominion Freight Line's revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 EPS. Analysts forecast that Old Dominion Freight Line will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is 18.18%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company's stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its holdings in Old Dominion Freight Line by 20.5% during the third quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock worth $1,188,000 after buying an additional 1,017 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at $2,109,000. Kinsale Capital Group Inc. boosted its stake in shares of Old Dominion Freight Line by 18.4% during the 3rd quarter. Kinsale Capital Group Inc. now owns 23,293 shares of the transportation company's stock worth $4,627,000 after acquiring an additional 3,614 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Old Dominion Freight Line in the 3rd quarter worth $30,745,000. Finally, Truist Financial Corp raised its position in shares of Old Dominion Freight Line by 7.6% during the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company's stock worth $18,754,000 after purchasing an additional 7,460 shares during the period. 77.82% of the stock is owned by institutional investors.

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.