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

Benchmark reissued their hold rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report sent to investors on Wednesday, Benzinga reports.

Several other research firms have also commented on ODFL. JPMorgan Chase & Co. reduced their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a neutral rating for the company in a research report on Friday, September 6th. BMO Capital Markets boosted their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Bank of America reduced their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a neutral rating for the company in a research report on Friday, September 6th. Stephens reaffirmed an overweight rating and set a $214.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Finally, Wells Fargo & Company reduced their target price on Old Dominion Freight Line from $175.00 to $170.00 and set an underweight rating on the stock in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $201.00.

Old Dominion Freight Line Trading Up 0.7 %

Shares of NASDAQ ODFL opened at $192.61 on Wednesday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $195.01 and a two-hundred day simple moving average of $196.65. The firm has a market cap of $41.85 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. Analysts expect that Old Dominion Freight Line will post 5.64 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.54%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $27,000. Raleigh Capital Management Inc. purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $29,000. Neo Ivy Capital Management purchased a new position in Old Dominion Freight Line during the fourth quarter worth approximately $40,000. Farmers & Merchants Investments Inc. boosted its position in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position in Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. Hedge funds and other institutional investors 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.