Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Given Average Recommendation of “Hold” by Brokerages

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received an average recommendation of “Hold” from the twenty-one research firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $202.44.

A number of equities analysts have recently weighed in on ODFL shares. Susquehanna reiterated a “neutral” rating and set a $195.00 price target (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. The Goldman Sachs Group lifted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. lifted their target price on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, TD Cowen decreased their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $35,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line during the 3rd quarter worth $45,000. Synergy Asset Management LLC acquired a new position in Old Dominion Freight Line in the fourth quarter valued at $41,000. Brown Brothers Harriman & Co. raised its holdings in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Old Dominion Freight Line during the third quarter worth about $64,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Up 5.4 %

Shares of ODFL stock opened at $193.65 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The company’s 50-day moving average price is $191.21 and its 200-day moving average price is $197.70. The stock has a market cap of $41.34 billion, a price-to-earnings ratio of 33.85, a PEG ratio of 4.95 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. As a group, equities analysts predict that Old Dominion Freight Line will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This is a boost 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 0.58%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

About Old Dominion Freight Line

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.