Stephens Reiterates “Overweight” Rating for Old Dominion Freight Line (NASDAQ:ODFL)

Stephens restated their overweight rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a report published on Thursday morning, Benzinga reports. Stephens currently has a $214.00 price objective on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the company. Baird R W upgraded Old Dominion Freight Line from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. Susquehanna dropped their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating on the stock in a research report on Wednesday, June 12th. Barclays decreased their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating on the stock in a research note on Wednesday, June 12th. JPMorgan Chase & Co. raised their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a neutral rating in a report on Thursday, July 25th. Finally, Robert W. Baird increased their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an outperform rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of Hold and an average target price of $201.00.

Old Dominion Freight Line Trading Down 0.7 %

Shares of ODFL stock opened at $184.82 on Thursday. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The stock has a market capitalization of $40.16 billion, a P/E ratio of 32.54, a price-to-earnings-growth ratio of 3.76 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The company has a 50 day moving average price of $194.08 and a 200 day moving average price of $197.36.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 earnings per share. Equities research analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently bought and sold shares of ODFL. Benjamin Edwards Inc. bought a new position in Old Dominion Freight Line during the 2nd quarter worth $25,000. Trust Co. of Vermont bought a new stake in Old Dominion Freight Line during the 4th quarter valued at $27,000. Farmers & Merchants Investments Inc. grew its position in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. increased its stake in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares during the period. Finally, Raleigh Capital Management Inc. bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $29,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.