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

Key Points

• Old Dominion Freight Line has a consensus analyst rating of Hold, based on 26 covering firms. The average 12-month price target is about $206.29.
• The company’s latest quarterly results beat expectations, with EPS of $1.14 versus the $1.05 estimate and revenue of $1.33 billion versus the $1.31 billion forecast. Revenue still fell 2.9% year over year.
• Insiders have been selling shares recently, including chairman David S. Congdon and insider Earl E. Congdon. Over the last quarter, insiders sold 99,107 shares worth about $19.3 million.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) has received an average rating of "Hold" from the twenty-six ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $206.2917.

A number of analysts recently weighed in on the company. Benchmark restated a "hold" rating on shares of Old Dominion Freight Line in a report on Wednesday, March 4th. Evercore set a $219.00 price objective on Old Dominion Freight Line in a report on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Old Dominion Freight Line from $183.00 to $197.00 and gave the company a "neutral" rating in a research report on Thursday, April 30th. Jefferies Financial Group upped their price target on shares of Old Dominion Freight Line from $210.00 to $230.00 and gave the company a "hold" rating in a research report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft cut shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating and set a $205.00 price target on the stock. in a research report on Thursday, February 5th.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 52,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the transaction, the chairman owned 712,800 shares of the company's stock, valued at $138,832,056. This represents a 6.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Earl E. Congdon sold 25,000 shares of the stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the transaction, the insider directly owned 2,162,113 shares in the company, valued at $424,055,222.69. This trade represents a 1.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 99,107 shares of company stock valued at $19,265,223. 10.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently made changes to their positions in the stock. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company's stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter worth about $29,000. Reflection Asset Management acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $28,000. Westside Investment Management Inc. raised its holdings in shares of Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company's stock worth $27,000 after acquiring an additional 98 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in shares of Old Dominion Freight Line in the 1st quarter worth about $39,000. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $204.46 on Wednesday. The company has a market capitalization of $42.52 billion, a PE ratio of 42.77, a price-to-earnings-growth ratio of 4.18 and a beta of 1.17. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $233.79. The company has a fifty day moving average of $200.15 and a 200-day moving average of $178.04.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted 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. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.Old Dominion Freight Line's quarterly revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.19 earnings per share. On average, equities analysts forecast that Old Dominion Freight Line will post 5.32 EPS for the current fiscal year.

Old Dominion Freight Line Company Profile

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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