Old Dominion Freight Line (ODFL) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Old Dominion Freight Line (NASDAQ:ODFL) have been given an average recommendation of “Hold” by the fifteen analysts that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $115.50.

Several research analysts have recently commented on ODFL shares. Deutsche Bank downgraded Old Dominion Freight Line from a “hold” rating to a “sell” rating and reduced their target price for the stock from $119.00 to $101.00 in a report on Monday, December 4th. Bank of America downgraded Old Dominion Freight Line from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $105.00 to $102.00 in a report on Tuesday, October 10th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and issued a $115.00 target price on shares of Old Dominion Freight Line in a report on Thursday, October 12th. Credit Suisse Group reissued a “buy” rating and issued a $142.00 target price (up from $128.00) on shares of Old Dominion Freight Line in a report on Wednesday, December 6th. Finally, Seaport Global Securities reissued a “buy” rating on shares of Old Dominion Freight Line in a report on Tuesday, December 5th.

A number of hedge funds have recently bought and sold shares of ODFL. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Old Dominion Freight Line by 14.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,351 shares of the transportation company’s stock worth $224,000 after purchasing an additional 288 shares during the last quarter. Riverhead Capital Management LLC raised its position in Old Dominion Freight Line by 44.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 6,765 shares of the transportation company’s stock worth $644,000 after purchasing an additional 2,085 shares during the last quarter. Nationwide Fund Advisors raised its position in Old Dominion Freight Line by 1.5% in the 2nd quarter. Nationwide Fund Advisors now owns 147,592 shares of the transportation company’s stock worth $14,057,000 after purchasing an additional 2,221 shares during the last quarter. Amalgamated Bank raised its position in Old Dominion Freight Line by 14.4% in the 2nd quarter. Amalgamated Bank now owns 12,380 shares of the transportation company’s stock worth $1,179,000 after purchasing an additional 1,560 shares during the last quarter. Finally, BT Investment Management Ltd bought a new position in Old Dominion Freight Line in the 2nd quarter worth approximately $788,000. Hedge funds and other institutional investors own 72.39% of the company’s stock.

Shares of Old Dominion Freight Line (NASDAQ ODFL) opened at $140.80 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $11,600.00, a P/E ratio of 34.68 and a beta of 1.20. Old Dominion Freight Line has a 1-year low of $80.56 and a 1-year high of $141.00.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.08. The company had revenue of $872.99 million for the quarter, compared to the consensus estimate of $855.85 million. Old Dominion Freight Line had a return on equity of 20.12% and a net margin of 11.72%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 earnings per share. equities research analysts predict that Old Dominion Freight Line will post 4.32 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Tuesday, December 5th. Old Dominion Freight Line’s payout ratio is currently 9.85%.

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Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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