Old Dominion Freight Line (NASDAQ:ODFL) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Old Dominion Freight Line (NASDAQ:ODFL) from a hold rating to a sell rating in a research report released on Saturday morning.

Other equities research analysts have also recently issued reports about the stock. Barclays cut their price objective on shares of Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Monday, March 10th. Bank of America dropped their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Evercore ISI increased their price objective on shares of Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. boosted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Truist Financial initiated coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $200.20.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $165.45 on Friday. The company has a 50-day moving average price of $182.14 and a two-hundred day moving average price of $193.41. Old Dominion Freight Line has a 52 week low of $157.67 and a 52 week high of $233.26. The stock has a market cap of $35.17 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. 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 (NASDAQ:ODFL) last issued its quarterly earnings data 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%. Analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.28 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Institutional Trading of Old Dominion Freight Line

Several institutional investors have recently made changes to their positions in ODFL. Townsquare Capital LLC raised its position in Old Dominion Freight Line by 20.5% during the third quarter. Townsquare Capital LLC now owns 15,155 shares of the transportation company’s stock valued at $3,010,000 after acquiring an additional 2,576 shares in the last quarter. Fiduciary Trust Co lifted its stake in shares of Old Dominion Freight Line by 14.8% in the third quarter. Fiduciary Trust Co now owns 1,659 shares of the transportation company’s stock valued at $330,000 after buying an additional 214 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Old Dominion Freight Line by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after purchasing an additional 57,301 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Old Dominion Freight Line by 62.7% during the third quarter. Public Sector Pension Investment Board now owns 7,266 shares of the transportation company’s stock worth $1,443,000 after buying an additional 2,800 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of Old Dominion Freight Line by 3.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock valued at $301,000 after acquiring an additional 56 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.