Old Dominion Freight Line (NASDAQ:ODFL) Earns Overweight Rating from Stephens

Stephens reissued their overweight rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research note issued to investors on Thursday morning, Benzinga reports. Stephens currently has a $214.00 target price on the transportation company’s stock.

Other analysts have also issued reports about the company. BMO Capital Markets raised their price objective on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Raymond James lifted their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an outperform rating in a report on Thursday, July 25th. TD Cowen upped their price objective on shares of Old Dominion Freight Line from $206.00 to $214.00 and gave the stock a hold rating in a research report on Thursday, July 25th. Barclays cut their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating on the stock in a research report on Wednesday, June 12th. Finally, Robert W. Baird upped their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an outperform rating in a report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $201.00.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $184.82 on Thursday. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The company has a market cap of $40.16 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 3.76 and a beta of 0.99. The company has a 50 day moving average of $194.08 and a 200-day moving average of $197.46. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 earnings per share. As a group, equities research analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line in the 2nd quarter worth $25,000. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line during the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. lifted its stake in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. grew its holdings in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares during the last quarter. Finally, Raleigh Capital Management Inc. bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 77.82% 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.