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

Key Points

• Analyst consensus: 26 analysts rate ODFL a consensus Hold (3 sell, 14 hold, 9 buy) with an average 1‑year price target of $196.33, below the stock's recent open near $219.98.
• Quarterly results: Old Dominion posted $1.09 EPS versus $1.06 expected but saw revenue down 5.7% year‑over‑year, and analysts project about $5.13 EPS for the current year.
• Insider activity: Chairman David S. Congdon sold 52,000 shares and insiders disposed of 80,134 shares (~$15.64M) over the past 90 days, though insiders still own roughly 10% of the company.

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) have received an average recommendation of "Hold" from the twenty-six analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $196.3333.

Several research firms have recently commented on ODFL. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a research report on Sunday, January 25th. Robert W. Baird downgraded Old Dominion Freight Line from a "neutral" rating to an "underperform" rating and upped their target price for the company from $166.00 to $204.00 in a research report on Thursday, February 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Old Dominion Freight Line in a research report on Tuesday, April 14th. JPMorgan Chase & Co. upped their target price on Old Dominion Freight Line from $182.00 to $183.00 and gave the company a "neutral" rating in a research report on Tuesday, April 7th. Finally, Citigroup boosted their price target on Old Dominion Freight Line from $216.00 to $218.00 and gave the company a "neutral" rating in a research note on Tuesday, April 7th.

Old Dominion Freight Line Stock Down 1.3%

NASDAQ:ODFL opened at $219.98 on Friday. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $227.08. The stock's 50 day moving average price is $199.23 and its two-hundred day moving average price is $170.77. The firm has a market capitalization of $45.82 billion, a price-to-earnings ratio of 45.54, a P/E/G ratio of 4.67 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its earnings results on Wednesday, February 4th. The transportation company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the business earned $1.23 earnings per share. The firm's revenue for the quarter was down 5.7% on a year-over-year basis. Equities research analysts expect that Old Dominion Freight Line will post 5.13 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 0.5%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, March 4th. Old Dominion Freight Line's dividend payout ratio is presently 24.02%.

Insider Activity at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 52,000 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total value of $10,128,040.00. Following the completion of the sale, the chairman directly owned 712,800 shares in the company, valued at approximately $138,832,056. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bradley R. Gabosch sold 3,134 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the sale, the director owned 11,278 shares of the company's stock, valued at approximately $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 80,134 shares of company stock worth $15,640,132. Company insiders own 10.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ODFL. E Fund Management Hong Kong Co. Ltd. raised its position in Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company's stock valued at $27,000 after purchasing an additional 123 shares in the last quarter. Westside Investment Management Inc. boosted its stake 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 valued at $27,000 after purchasing an additional 98 shares during the last quarter. Reflection Asset Management bought a new position in Old Dominion Freight Line during the fourth quarter worth $28,000. DT Investment Partners LLC raised its stake in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company's stock worth $33,000 after buying an additional 180 shares during the last quarter. Finally, Raiffeisen Bank International AG bought a new position in Old Dominion Freight Line during the third quarter worth $37,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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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