Old Dominion Freight Line (NASDAQ:ODFL) Posts Earnings Results, Beats Expectations By $0.06 EPS

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

Old Dominion Freight Line Stock Up 7.0 %

Shares of NASDAQ ODFL traded up $12.85 during trading on Wednesday, reaching $196.51. 893,102 shares of the stock were exchanged, compared to its average volume of 1,378,660. The company has a market capitalization of $41.95 billion, a price-to-earnings ratio of 34.30, a price-to-earnings-growth ratio of 4.95 and a beta of 1.05. The business’s 50-day moving average price is $191.82 and its 200 day moving average price is $197.73. The company has a quick ratio of 1.33, a current 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.

Old Dominion Freight Line Increases Dividend

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

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of research analyst reports. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Stifel Nicolaus upped their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Citigroup lifted 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 report on Tuesday, November 12th. BMO Capital Markets dropped their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $202.44.

Insider Activity at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The stock was 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 of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.90% of the company’s stock.

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.