Old Dominion Freight Line (NASDAQ:ODFL) Earns “Neutral” Rating from Susquehanna

Susquehanna reissued their neutral rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a report released on Tuesday morning, MarketBeat Ratings reports. Susquehanna currently has a $195.00 price objective on the transportation company’s stock, down from their previous price objective of $218.00.

A number of other brokerages have also issued reports on ODFL. JPMorgan Chase & Co. raised their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company decreased their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research note on Thursday, October 24th. Citigroup raised their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Robert W. Baird decreased their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group raised their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $204.12.

Old Dominion Freight Line Stock Down 0.6 %

ODFL opened at $179.58 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $38.34 billion, a P/E ratio of 31.40, a PEG ratio of 4.21 and a beta of 1.05. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $233.26. The business’s fifty day simple moving average is $203.37 and its 200 day simple moving average is $197.24.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.54 earnings per share. As a group, equities research analysts anticipate that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.58%. Old Dominion Freight Line’s payout ratio is currently 18.18%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its holdings in Old Dominion Freight Line by 3.8% during the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after purchasing an additional 279,946 shares during the last quarter. Geode Capital Management LLC increased its holdings in Old Dominion Freight Line by 6.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares during the last quarter. Wellington Management Group LLP increased its holdings in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after purchasing an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Old Dominion Freight Line by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after acquiring an additional 78,587 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.