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

Key Points

• Old Dominion Freight Line has a consensus analyst rating of Hold, based on coverage from 26 analysts. The average 1-year price target is $220.
• Recent analyst moves were mixed: Wells Fargo upgraded the stock to overweight, while Citigroup cut it to sell. Other firms, including Stifel and Morgan Stanley, raised their price targets.
• The company reported better-than-expected quarterly earnings of $1.14 per share and revenue of $1.33 billion, and it also paid a quarterly dividend of $0.29 per share.

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) have been assigned an average rating of "Hold" from the twenty-six analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $220.00.

Several equities analysts have recently commented on ODFL shares. Wells Fargo & Company upgraded Old Dominion Freight Line from an "underweight" rating to an "overweight" rating and increased their target price for the company from $235.00 to $250.00 in a research note on Wednesday. Stifel Nicolaus lifted their price target on shares of Old Dominion Freight Line from $228.00 to $232.00 in a research note on Thursday, April 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Old Dominion Freight Line in a report on Tuesday, April 14th. Morgan Stanley reiterated an "equal weight" rating and set a $245.00 price objective (up from $235.00) on shares of Old Dominion Freight Line in a research note on Monday. Finally, Citigroup lowered shares of Old Dominion Freight Line from a "neutral" rating to a "sell" rating and raised their price objective for the stock from $225.00 to $228.00 in a report on Monday, June 15th.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $218.25 on Thursday. The company has a market capitalization of $45.39 billion, a P/E ratio of 45.66, a P/E/G ratio of 3.93 and a beta of 1.18. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $252.03. The stock has a 50-day moving average price of $218.29 and a 200 day moving average price of $198.94.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the firm earned $1.19 EPS. Old Dominion Freight Line's quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Old Dominion Freight Line will post 5.51 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line's dividend payout ratio is 24.27%.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total value of $4,233,932.64. Following the completion of the transaction, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.00% of the company's stock.

Institutional Trading of Old Dominion Freight Line

Several institutional investors and hedge funds have recently bought and sold shares of ODFL. Value Partners Investments Inc. increased its stake in Old Dominion Freight Line by 38.7% during the fourth quarter. Value Partners Investments Inc. now owns 20,103 shares of the transportation company's stock valued at $3,157,000 after purchasing an additional 5,610 shares during the last quarter. Waterfront Wealth Inc. acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $1,430,000. Baillie Gifford & Co. acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $13,322,000. AustralianSuper Pty Ltd grew its position in shares of Old Dominion Freight Line by 955.4% during the 4th quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company's stock valued at $11,761,000 after buying an additional 67,898 shares during the last quarter. Finally, Procyon Advisors LLC bought a new stake in shares of Old Dominion Freight Line during the 4th quarter valued at about $1,726,000. Institutional investors and hedge funds own 77.82% of the company's stock.

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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