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

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

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL traded up $11.45 during trading on Wednesday, reaching $195.11. The company’s stock had a trading volume of 1,019,087 shares, compared to its average volume of 1,378,660. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $233.26. The firm has a market cap of $41.66 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 4.95 and a beta of 1.05. The firm has a 50 day moving average of $191.82 and a 200-day moving average of $197.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.28 per share. This is a positive change 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 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Insider Transactions at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 9.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ODFL. Jefferies Financial Group boosted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company cut their price target on 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. The Goldman Sachs Group boosted their price objective 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. JPMorgan Chase & Co. increased 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, Robert W. Baird decreased their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of “Hold” and an average price target of $202.44.

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.