Old Dominion Freight Line (NASDAQ:ODFL) Issues Earnings Results

Old Dominion Freight Line (NASDAQ:ODFL) posted its earnings results on Wednesday. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06, Zacks reports. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%.

Old Dominion Freight Line Stock Up 6.2 %

Old Dominion Freight Line stock traded up $11.45 during trading hours on Wednesday, hitting $195.11. 1,019,087 shares of the stock traded hands, compared to its average volume of 1,378,660. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26. The firm’s 50-day moving average price is $191.82 and its two-hundred day moving average price is $197.73. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $41.66 billion, a PE ratio of 34.05, a PEG ratio of 4.95 and a beta of 1.05.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.28 dividend. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. Barclays dropped their target price on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company reduced their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets dropped their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Finally, Citigroup increased their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $202.44.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 9.90% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc operates as a less-than-truckload motor carrier in the United States and North America. The company offers regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. It also provides various value-added services, including container drayage, truckload brokerage, and supply chain consulting.