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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) have received a consensus rating of "Hold" from the twenty-three research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $201.40.

A number of equities research analysts recently commented on the company. StockNews.com upgraded Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Saturday, February 15th. Stephens reiterated an "overweight" rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Jefferies Financial Group boosted their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a "hold" rating in a research report on Friday, January 10th. Bank of America decreased their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, The Goldman Sachs Group boosted their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a "neutral" rating in a report on Thursday, December 12th.

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Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded up $1.56 during mid-day trading on Friday, reaching $170.23. The company had a trading volume of 1,260,169 shares, compared to its average volume of 1,572,273. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $36.18 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 2.89 and a beta of 1.10. The company has a 50 day moving average of $183.51 and a 200-day moving average of $193.88. Old Dominion Freight Line has a 52 week low of $157.67 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, sell-side analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from Old Dominion Freight Line's previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.66%. Old Dominion Freight Line's payout ratio is 18.98%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds have recently modified their holdings of ODFL. Avanza Fonder AB acquired a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at approximately $128,221,000. Toronto Dominion Bank increased its holdings in Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock worth $19,479,000 after buying an additional 42,880 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in Old Dominion Freight Line during the fourth quarter worth $630,000. Finally, Board of the Pension Protection Fund bought a new stake in Old Dominion Freight Line during the fourth quarter worth $600,000. Institutional investors own 77.82% of the company's stock.

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.