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

Key Points

• Analyst consensus is “Hold”: Of 25 analysts covering Old Dominion Freight Line, 14 rate it a hold, nine rate it a buy and two rate it a sell. The average 12-month price target is $226.55.
• Recent analyst targets range from $227 at Jefferies to $263 at Stifel Nicolaus, while Evercore maintained an outperform rating and Citigroup raised its target to $231.
• Quarterly results exceeded expectations: Old Dominion reported EPS of $1.68 versus the $1.54 consensus estimate, with revenue rising 10.4% year over year to $1.55 billion. The company also declared a quarterly dividend of $0.29 per share, for an annualized yield of about 0.5%.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) has received an average recommendation of "Hold" from the twenty-five analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $226.5455.

Several research firms have recently weighed in on ODFL. Stifel Nicolaus set a $263.00 price objective on shares of Old Dominion Freight Line and gave the company a "buy" rating in a research note on Thursday. Jefferies Financial Group reissued a "hold" rating and set a $227.00 target price on shares of Old Dominion Freight Line in a research note on Thursday. Evercore restated an "outperform" rating and issued a $243.00 price target on shares of Old Dominion Freight Line in a report on Thursday. TD Cowen reaffirmed a "hold" rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. Finally, Citigroup reaffirmed a "neutral" rating and issued a $231.00 price target (up from $228.00) on shares of Old Dominion Freight Line in a research note on Thursday.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $212.14 on Monday. The company has a market cap of $44.12 billion, a P/E ratio of 40.87, a PEG ratio of 3.69 and a beta of 1.18. The stock has a 50 day simple moving average of $226.77 and a two-hundred day simple moving average of $206.80. Old Dominion Freight Line has a fifty-two week low of $126.01 and a fifty-two week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.14. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company's revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 earnings per share. On average, research analysts predict that Old Dominion Freight Line will post 5.78 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 22.35%.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Old Dominion Freight Line by 5.3% in the fourth quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after acquiring an additional 79 shares during the period. Empowered Funds LLC raised its position in shares of Old Dominion Freight Line by 134.9% during the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company's stock worth $1,690,000 after purchasing an additional 5,866 shares during the period. Marshall Wace LLP bought a new position in shares of Old Dominion Freight Line in the 2nd quarter worth $7,478,000. Jump Financial LLC bought a new position in shares of Old Dominion Freight Line in the 2nd quarter worth $2,891,000. Finally, AXA S.A. lifted its holdings in shares of Old Dominion Freight Line by 1.2% in the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company's stock worth $3,287,000 after purchasing an additional 238 shares in the last quarter. 77.82% of the stock is owned by institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.

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