Old Dominion Freight Line (NASDAQ:ODFL) Stock Rating Reaffirmed by Benchmark

Benchmark restated their hold rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report released on Thursday, Benzinga reports.

A number of other research firms have also recently issued reports on ODFL. Baird R W raised Old Dominion Freight Line from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. Vertical Research raised shares of Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 price objective for the company in a research report on Monday, April 29th. Robert W. Baird boosted their price objective on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an outperform rating in a research report on Thursday. Barclays lowered their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating for the company in a report on Wednesday, June 12th. Finally, Bank of America boosted their price target on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a neutral rating in a report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $202.78.

Old Dominion Freight Line Trading Down 1.3 %

ODFL opened at $202.93 on Thursday. The firm’s fifty day moving average is $180.27 and its two-hundred day moving average is $198.82. The firm has a market cap of $44.09 billion, a PE ratio of 35.73, a price-to-earnings-growth ratio of 3.89 and a beta of 1.00. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the business posted $1.33 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. Equities research analysts anticipate that Old Dominion Freight Line will post 5.73 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. Old Dominion Freight Line’s payout ratio is 18.31%.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its holdings in shares of Old Dominion Freight Line by 22.5% in the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock valued at $60,000 after purchasing an additional 27 shares during the period. Avantax Advisory Services Inc. raised its stake in Old Dominion Freight Line by 1.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after buying an additional 30 shares during the period. Drive Wealth Management LLC lifted its position in shares of Old Dominion Freight Line by 5.3% in the fourth quarter. Drive Wealth Management LLC now owns 778 shares of the transportation company’s stock valued at $316,000 after buying an additional 39 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of Old Dominion Freight Line by 5.5% during the 4th quarter. Ballentine Partners LLC now owns 772 shares of the transportation company’s stock worth $313,000 after acquiring an additional 40 shares during the period. Finally, Freedom Day Solutions LLC increased its holdings in shares of Old Dominion Freight Line by 0.8% during the 4th quarter. Freedom Day Solutions LLC now owns 4,863 shares of the transportation company’s stock worth $1,971,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.