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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) have earned an average rating of "Hold" from the twenty-two analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $174.55.

ODFL has been the topic of several recent research reports. UBS Group reduced their price objective on Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Wells Fargo & Company set a $150.00 price target on Old Dominion Freight Line and gave the company an "underweight" rating in a report on Thursday, April 24th. Raymond James Financial set a $185.00 price target on shares of Old Dominion Freight Line and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their target price on Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded up $2.55 during mid-day trading on Friday, reaching $171.00. 760,535 shares of the stock were exchanged, compared to its average volume of 1,651,725. The stock has a market capitalization of $36.14 billion, a P/E ratio of 32.08, a P/E/G ratio of 3.35 and a beta of 1.25. Old Dominion Freight Line has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a 50 day simple moving average of $160.94 and a 200-day simple moving average of $171.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.05. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The business's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.34 earnings per share. Analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds have recently modified their holdings of ODFL. Larson Financial Group LLC boosted its position in shares of Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock valued at $25,000 after purchasing an additional 108 shares in the last quarter. American National Bank & Trust acquired a new stake in shares of Old Dominion Freight Line in the first quarter worth $30,000. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $35,000. Itau Unibanco Holding S.A. boosted its stake in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company's stock valued at $40,000 after buying an additional 192 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in Old Dominion Freight Line during the first quarter valued at $39,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.