Old Dominion Freight Line (NASDAQ:ODFL) has been assigned an average recommendation of “Hold” from the fifteen research firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $127.55.
ODFL has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $152.00 price target on the stock in a research note on Saturday, January 6th. Deutsche Bank cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating and dropped their price target for the company from $119.00 to $101.00 in a research note on Monday, December 4th. Bank of America lifted their price target on shares of Old Dominion Freight Line from $127.00 to $133.00 and gave the company an “underperform” rating in a research note on Thursday, March 8th. Stifel Nicolaus reissued a “hold” rating and issued a $134.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, January 18th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $150.00 price target (up previously from $99.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 21st.
Hedge funds have recently made changes to their positions in the business. Fieldpoint Private Securities LLC purchased a new position in Old Dominion Freight Line in the 3rd quarter valued at $100,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Old Dominion Freight Line in the 4th quarter valued at $132,000. Captrust Financial Advisors purchased a new position in Old Dominion Freight Line in the 4th quarter valued at $138,000. Salem Investment Counselors Inc. lifted its holdings in Old Dominion Freight Line by 3,281.3% in the 3rd quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock valued at $118,000 after purchasing an additional 1,050 shares in the last quarter. Finally, Pinebridge Investments L.P. purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter worth $123,000. Institutional investors own 76.39% of the company’s stock.
Old Dominion Freight Line stock traded down $5.40 during trading on Wednesday, reaching $141.57. The company had a trading volume of 599,837 shares, compared to its average volume of 623,318. Old Dominion Freight Line has a 1-year low of $80.56 and a 1-year high of $152.50. The stock has a market capitalization of $12,106.57, a P/E ratio of 32.92, a P/E/G ratio of 1.03 and a beta of 1.17. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.67 and a current ratio of 1.67.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, February 8th. The transportation company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.01. Old Dominion Freight Line had a net margin of 13.81% and a return on equity of 17.37%. The firm had revenue of $891.12 million for the quarter, compared to analysts’ expectations of $879.00 million. During the same quarter last year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. sell-side analysts predict that Old Dominion Freight Line will post 6.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 20th. Shareholders of record on Tuesday, March 6th were issued a $0.13 dividend. The ex-dividend date was Monday, March 5th. This represents a $0.52 dividend on an annualized basis and a yield of 0.37%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.10. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 11.93%.
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About Old Dominion Freight Line
Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.
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