Old Dominion Freight Line (NASDAQ:ODFL) Sets New 52-Week High - Should You Buy?

Key Points

• Old Dominion hit a new 52-week high of $222.25 (last $221.84) on Monday, with a market cap around $46.6 billion and a relatively high valuation (P/E ≈ 46).
• Analysts are mixed despite the rally: the consensus rating is "Hold" with an average price target of $195.50 (9 Buys, 14 Holds, 3 Sells), implying the target is below the current share price.
• The company slightly beat quarterly EPS ($1.09 vs. $1.06) while revenue fell 5.7% year‑over‑year; it raised the quarterly dividend to $0.29 (0.5% yield) and insiders have sold roughly 80,134 shares (~$15.6M) in the past 90 days.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $222.25 and last traded at $221.8420, with a volume of 290659 shares. The stock had previously closed at $217.76.

Analyst Upgrades and Downgrades

ODFL has been the topic of several research reports. BMO Capital Markets reiterated an "outperform" rating on shares of Old Dominion Freight Line in a report on Thursday, February 19th. Benchmark restated a "hold" rating on shares of Old Dominion Freight Line in a research note on Wednesday, March 4th. Stephens reaffirmed an "overweight" rating and issued a $232.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Raymond James Financial increased their price objective on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the stock an "outperform" rating in a research note on Friday, February 6th. Finally, Rothschild & Co Redburn boosted their price objective on Old Dominion Freight Line from $114.00 to $176.00 and gave the company a "sell" rating in a report on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $195.50.

Old Dominion Freight Line Trading Up 2.6%

The firm's 50-day moving average is $196.29 and its two-hundred day moving average is $168.34. The stock has a market cap of $46.58 billion, a price-to-earnings ratio of 46.18, a P/E/G ratio of 4.57 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $1.30 billion. During the same period in the previous year, the firm posted $1.23 EPS. Old Dominion Freight Line's revenue was down 5.7% compared to the same quarter last year. On average, analysts predict that Old Dominion Freight Line, Inc. will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

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

Insider Buying and Selling

In other Old Dominion Freight Line news, insider Earl E. Congdon sold 25,000 shares of Old Dominion Freight Line stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the sale, the insider owned 2,162,113 shares of the company's stock, valued at $424,055,222.69. The trade was a 1.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman David S. Congdon sold 52,000 shares of the company's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the sale, the chairman directly owned 712,800 shares of the company's stock, valued at $138,832,056. The trade was a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 80,134 shares of company stock worth $15,640,132. 10.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC lifted its stake 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 worth $275,000 after purchasing an additional 79 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company's stock valued at $1,690,000 after purchasing an additional 5,866 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $7,478,000. Jump Financial LLC purchased a new position in Old Dominion Freight Line during the second quarter worth approximately $2,891,000. Finally, AXA S.A. lifted its position in Old Dominion Freight Line by 1.2% during the second quarter. AXA S.A. now owns 20,253 shares of the transportation company's stock worth $3,287,000 after buying an additional 238 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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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