Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Given Average 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 twenty-one research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $176.10.

Several brokerages have recently weighed in on ODFL. Wells Fargo & Company set a $150.00 target price on shares of Old Dominion Freight Line and gave the stock an "underweight" rating in a research note on Thursday, April 24th. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and increased their target price for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Stephens reiterated an "overweight" rating and set a $180.00 target price (down previously from $200.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 24th. Citigroup upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $186.00 to $183.00 in a research note on Tuesday, April 8th. Finally, Benchmark reiterated a "hold" rating and set a $102.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, June 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ODFL. Norges Bank purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $494,916,000. T. Rowe Price Investment Management Inc. increased its holdings in Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company's stock valued at $255,390,000 after buying an additional 1,361,397 shares in the last quarter. Nuveen LLC purchased a new position in Old Dominion Freight Line in the first quarter valued at about $151,107,000. JPMorgan Chase & Co. increased its holdings in Old Dominion Freight Line by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock valued at $402,002,000 after buying an additional 754,796 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Old Dominion Freight Line in the fourth quarter valued at about $114,449,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $163.68 on Friday. Old Dominion Freight Line has a 1 year low of $144.90 and a 1 year high of $233.26. The company has a market capitalization of $34.59 billion, a PE ratio of 30.71, a P/E/G ratio of 3.37 and a beta of 1.26. The company has a fifty day moving average of $160.36 and a two-hundred day moving average of $172.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.32 and a quick ratio of 1.32.

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

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.28 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 21.01%.

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.

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