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.
Wall Street Analysts Forecast Growth
ODFL has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Old Dominion Freight Line from $300.00 to $287.00 and set an "overweight" rating for the company in a research report on Friday, July 15th. Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $334.00 to $301.00 and set an "in-line" rating on the stock in a report on Tuesday, July 12th. Cowen raised their target price on shares of Old Dominion Freight Line from $213.00 to $232.00 in a report on Thursday, April 28th. Citigroup set a $270.00 target price on shares of Old Dominion Freight Line in a report on Tuesday, July 19th. Finally, Raymond James dropped their target price on shares of Old Dominion Freight Line from $305.00 to $265.00 in a report on Friday, July 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $294.27.
Old Dominion Freight Line Trading Down 0.3 %
Shares of Old Dominion Freight Line stock traded down $1.08 on Friday, hitting $314.31. The stock had a trading volume of 723,997 shares, compared to its average volume of 891,133. The stock has a 50 day moving average of $268.60 and a 200 day moving average of $281.04. Old Dominion Freight Line has a twelve month low of $231.31 and a twelve month high of $373.58. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $35.13 billion, a P/E ratio of 29.16, a PEG ratio of 1.59 and a beta of 1.04.
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 (EPS) for the quarter, beating the consensus estimate of $3.09 by $0.21. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. The firm's revenue was up 26.4% compared to the same quarter last year. Sell-side analysts expect that Old Dominion Freight Line will post 11.79 earnings per share for the current fiscal year.
Old Dominion Freight Line Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, September 7th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Tuesday, September 6th. Old Dominion Freight Line's payout ratio is presently 11.13%.
Insider Activity at Old Dominion Freight Line
In related news, Chairman David S. Congdon sold 6,246 shares of the company's stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $300.14, for a total value of $1,874,674.44. Following the sale, the chairman now directly owns 809,569 shares in the company, valued at $242,984,039.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.30% of the stock is currently owned by company insiders.