Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $203.72.

ODFL has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Barclays reduced their price objective 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. Finally, Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $176.50 on Monday. 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 52-week low of $165.49 and a 52-week high of $233.26. The business’s 50-day moving average price is $187.56 and its 200 day moving average price is $197.24. The firm has a market cap of $37.68 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. On average, equities research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm 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 0.63%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ODFL. Whipplewood Advisors LLC purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $35,000. Itau Unibanco Holding S.A. increased its stake in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 192 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $41,000. RPg Family Wealth Advisory LLC purchased a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $45,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $51,000. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.