Old Dominion Freight Line, Inc. operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting. As of December 31, 2021, it owned and operated 10,403 tractors, 27,917 linehaul trailers, and 13,303 pickup and delivery trailers; 3 fleet maintenance centers; and 251 service centers. Old Dominion Freight Line, Inc. was founded in 1934 and is headquartered in Thomasville, North Carolina.
Analysts Set New Price Targets
A number of research firms have commented on ODFL. Evercore ISI reduced their price objective on Old Dominion Freight Line from $334.00 to $301.00 and set an "in-line" rating on the stock in a research note on Tuesday, July 12th. Raymond James dropped their price objective on Old Dominion Freight Line from $305.00 to $265.00 in a report on Friday, July 15th. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $300.00 to $287.00 and set an "overweight" rating for the company in a report on Friday, July 15th. Wolfe Research downgraded Old Dominion Freight Line from a "peer perform" rating to an "underperform" rating in a report on Tuesday, July 12th. Finally, Credit Suisse Group increased their price target on Old Dominion Freight Line from $282.00 to $295.00 and gave the stock a "neutral" rating in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $295.80.
Old Dominion Freight Line Trading Up 1.4 %
Old Dominion Freight Line stock traded up $4.09 during trading on Friday, hitting $303.17. The company's stock had a trading volume of 651,550 shares, compared to its average volume of 884,913. The stock has a market capitalization of $33.89 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 1.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.21 and a current ratio of 1.92. The stock's fifty day moving average is $263.83 and its 200 day moving average is $280.51. Old Dominion Freight Line has a 1-year low of $231.31 and a 1-year high of $373.58.
Old Dominion Freight Line (NASDAQ:ODFL - Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The transportation company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.09 by $0.21. The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.66 billion. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. The company's revenue was up 26.4% compared to the same quarter last year. During the same period last year, the company posted $2.31 EPS. As a group, equities research analysts predict that Old Dominion Freight Line will post 11.74 EPS for the current year.
Old Dominion Freight Line Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Stockholders of record on Wednesday, September 7th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.40%. Old Dominion Freight Line's payout ratio is 11.13%.
Insiders Place Their Bets
In other Old Dominion Freight Line news, Chairman David S. Congdon sold 6,246 shares of the firm's stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $300.14, for a total value of $1,874,674.44. Following the completion of the sale, the chairman now directly owns 809,569 shares in the company, valued at $242,984,039.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.30% of the company's stock.