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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) have been assigned a consensus rating of "Hold" from the seventeen analysts that are currently covering the stock, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $209.08.

Several research analysts have recently issued reports on ODFL shares. Bank of America reduced their target price on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a "neutral" rating on the stock in a research note on Thursday, April 25th. UBS Group upped their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, April 25th. Barclays cut their price target on Old Dominion Freight Line from $210.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, April 25th. Evercore ISI cut their target price on Old Dominion Freight Line from $241.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, April 25th. Finally, Vertical Research raised Old Dominion Freight Line from a "sell" rating to a "hold" rating and set a $175.00 price objective for the company in a report on Monday.

Old Dominion Freight Line Stock Down 1.4 %

ODFL traded down $2.53 during trading hours on Tuesday, reaching $181.71. 1,822,594 shares of the stock traded hands, compared to its average volume of 1,432,631. The company has a market cap of $39.55 billion, a price-to-earnings ratio of 31.99, a PEG ratio of 2.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. Old Dominion Freight Line has a fifty-two week low of $147.90 and a fifty-two week high of $227.80. The firm's fifty day simple moving average is $219.52 and its two-hundred day simple moving average is $206.13.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. As a group, analysts forecast that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. Old Dominion Freight Line's payout ratio is currently 18.31%.

Insider Activity

In related news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the sale, the director now owns 13,540 shares in the company, valued at $2,993,355.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Associates Ltd. boosted its holdings in Old Dominion Freight Line by 1.6% during the third quarter. Pinnacle Associates Ltd. now owns 1,632 shares of the transportation company's stock worth $668,000 after buying an additional 26 shares in the last quarter. Jones Financial Companies Lllp lifted its position in shares of Old Dominion Freight Line by 22.5% in the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company's stock valued at $60,000 after acquiring an additional 27 shares in the last quarter. Lido Advisors LLC lifted its position in shares of Old Dominion Freight Line by 3.1% in the 3rd quarter. Lido Advisors LLC now owns 969 shares of the transportation company's stock valued at $397,000 after acquiring an additional 29 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in shares of Old Dominion Freight Line by 14.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company's stock valued at $96,000 after acquiring an additional 30 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company's stock valued at $1,096,000 after acquiring an additional 30 shares in the last quarter. 77.82% of the stock is currently 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.