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

Key Points

• Old Dominion Freight Line, Inc. received an average recommendation of "Hold" from 23 research firms, with one analyst rating it as a sell, 14 as hold, and 8 as buy.
• The company's latest earnings report showed a missed EPS estimate of $1.27 compared to the consensus of $1.29, alongside a 6.1% year-over-year revenue decline.
• Old Dominion has announced a quarterly dividend of $0.28, resulting in an annual yield of 0.7%, with a payout ratio of 21.88%.

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) have earned an average recommendation of "Hold" from the twenty-three research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $167.6190.

A number of research firms recently commented on ODFL. Vertical Research upgraded Old Dominion Freight Line from a "hold" rating to a "buy" rating and set a $170.00 target price on the stock in a research report on Thursday, July 31st. Stephens reduced their price objective on Old Dominion Freight Line from $186.00 to $174.00 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Robert W. Baird set a $148.00 price objective on Old Dominion Freight Line and gave the stock a "neutral" rating in a research note on Monday, August 4th. The Goldman Sachs Group raised Old Dominion Freight Line from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. Finally, TD Cowen reduced their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating on the stock in a research note on Thursday, July 31st.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $151.14 on Monday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $31.77 billion, a P/E ratio of 29.52, a P/E/G ratio of 3.48 and a beta of 1.24. Old Dominion Freight Line has a 12 month low of $140.91 and a 12 month high of $233.26. The business's 50-day moving average is $159.51 and its 200 day moving average is $165.53.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The firm had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%. Old Dominion Freight Line's quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, equities research analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.7%. Old Dominion Freight Line's dividend payout ratio is 21.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ODFL. Norges Bank bought a new position in Old Dominion Freight Line in the second quarter worth approximately $371,961,000. T. Rowe Price Investment Management Inc. grew its stake 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 worth $255,390,000 after purchasing an additional 1,361,397 shares in the last quarter. Nuveen LLC bought a new position in Old Dominion Freight Line in the first quarter worth approximately $151,107,000. JPMorgan Chase & Co. lifted its holdings in Old Dominion Freight Line by 45.1% during the first quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company's stock worth $402,002,000 after buying an additional 754,796 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Old Dominion Freight Line by 63.8% during the second quarter. First Trust Advisors LP now owns 1,521,054 shares of the transportation company's stock worth $246,867,000 after buying an additional 592,605 shares during the period. Institutional investors own 77.82% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.