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

Key Points

• Old Dominion Freight Line, Inc. has received an average analyst rating of "Hold" from 23 brokerages, with one sell rating, 14 holds, and eight buy ratings.
• The company's stock price target has been lowered by several analysts, with Stifel Nicolaus and TD Cowen recently adjusting their targets to $168.00 and $159.00, respectively.
• Old Dominion Freight Line reported a quarterly revenue of $1.41 billion, missing estimates, with a net margin of 19.42% and a announced a $0.28 quarterly dividend to be paid in September.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) has received an average rating of "Hold" from the twenty-three brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $167.1429.

Several equities research analysts have weighed in on ODFL shares. Stifel Nicolaus lowered their price target on Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, July 31st. TD Cowen lowered their price target on Old Dominion Freight Line from $166.00 to $159.00 and set a "hold" rating for the company in a report on Thursday, July 31st. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $160.00 to $145.00 and set an "underweight" rating for the company in a report on Thursday, July 31st. UBS Group lowered their price target on Old Dominion Freight Line from $158.00 to $155.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Finally, Morgan Stanley lowered their price target on Old Dominion Freight Line from $170.00 to $165.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC grew its holdings in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company's stock valued at $275,000 after buying an additional 79 shares in the last quarter. Triumph Capital Management purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $204,000. Cetera Investment Advisers grew its holdings in shares of Old Dominion Freight Line by 1.2% during the 4th quarter. Cetera Investment Advisers now owns 25,372 shares of the transportation company's stock worth $4,476,000 after purchasing an additional 302 shares during the period. CoreCap Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company's stock worth $60,000 after purchasing an additional 168 shares during the period. Finally, Focus Partners Wealth boosted its holdings in Old Dominion Freight Line by 8.7% during the 4th quarter. Focus Partners Wealth now owns 27,906 shares of the transportation company's stock valued at $4,953,000 after acquiring an additional 2,240 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $149.40 on Friday. The stock's fifty day moving average is $155.37 and its two-hundred day moving average is $160.01. The company has a market capitalization of $31.40 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 3.40 and a beta of 1.23. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. Old Dominion Freight Line has a 52 week low of $140.71 and a 52 week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the company posted $1.48 EPS. Old Dominion Freight Line's quarterly revenue was down 6.1% 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 Announces Dividend

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

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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