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.
Old Dominion Freight Line Stock Performance
Shares of NASDAQ:ODFL opened at $303.22 on Thursday. The business's fifty day moving average price is $271.31 and its two-hundred day moving average price is $281.49. Old Dominion Freight Line has a fifty-two week low of $231.31 and a fifty-two week high of $373.58. The stock has a market capitalization of $33.89 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 1.56 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.92 and a quick ratio of 1.92.
Old Dominion Freight Line (NASDAQ:ODFL - Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The transportation company reported $3.30 earnings per share for the quarter, beating analysts' consensus estimates of $3.09 by $0.21. The firm had revenue of $1.67 billion for the quarter, compared to analysts' expectations of $1.66 billion. Old Dominion Freight Line had a return on equity of 35.07% and a net margin of 20.77%. The business's revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.31 earnings per share. As a group, analysts predict that Old Dominion Freight Line will post 11.8 EPS for the current fiscal year.
Old Dominion Freight Line Announces Dividend
The firm 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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Tuesday, September 6th. Old Dominion Freight Line's payout ratio is presently 11.13%.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Evercore ISI cut their price target on Old Dominion Freight Line from $334.00 to $301.00 and set an "in-line" rating for the company in a report on Tuesday, July 12th. Susquehanna Bancshares cut their target price on Old Dominion Freight Line from $285.00 to $270.00 in a research note on Thursday, July 28th. Susquehanna cut their target price on Old Dominion Freight Line from $285.00 to $270.00 in a research note on Thursday, July 28th. Raymond James cut their target price on Old Dominion Freight Line from $305.00 to $265.00 in a research note on Friday, July 15th. Finally, Citigroup set a $270.00 target price on Old Dominion Freight Line in a research note on Tuesday, July 19th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $292.13.
Insider Transactions at Old Dominion Freight Line
In other news, Chairman David S. Congdon sold 6,246 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $300.14, for a total transaction of $1,874,674.44. Following the sale, the chairman now 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 available through the SEC website. Company insiders own 10.30% of the company's stock.