Shares of Old Dominion Freight Line (NASDAQ:ODFL) have received an average recommendation of “Hold” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $147.36.
Several equities analysts have recently commented on ODFL shares. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Bank of America increased their target price on Old Dominion Freight Line from $139.00 to $143.00 and gave the company an “underperform” rating in a research note on Thursday, August 30th. ValuEngine upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Morgan Stanley increased their target price on Old Dominion Freight Line from $158.00 to $160.00 and gave the company a “buy” rating in a research note on Tuesday, October 9th. Finally, Buckingham Research reduced their target price on Old Dominion Freight Line from $162.00 to $154.00 and set a “neutral” rating for the company in a research note on Friday, October 12th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Architects Inc bought a new position in Old Dominion Freight Line during the second quarter worth $120,000. Stratos Wealth Partners LTD. bought a new position in Old Dominion Freight Line during the third quarter worth $120,000. Signaturefd LLC lifted its stake in Old Dominion Freight Line by 2,308.6% during the second quarter. Signaturefd LLC now owns 843 shares of the transportation company’s stock worth $126,000 after purchasing an additional 808 shares during the last quarter. Gradient Investments LLC bought a new position in Old Dominion Freight Line during the third quarter worth $137,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Old Dominion Freight Line during the third quarter worth $142,000. Hedge funds and other institutional investors own 73.15% of the company’s stock.
Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, October 25th. The transportation company reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.15. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Old Dominion Freight Line had a return on equity of 22.13% and a net margin of 16.47%. As a group, analysts forecast that Old Dominion Freight Line will post 7.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 0.38%. The ex-dividend date is Wednesday, December 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 11.93%.
About Old Dominion Freight Line
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.
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