Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Given Average Rating of “Hold” by Brokerages

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Free Report) have earned an average recommendation of “Hold” from the nineteen ratings firms that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $395.89.

A number of research firms have commented on ODFL. Raymond James decreased their price objective on shares of Old Dominion Freight Line from $425.00 to $415.00 and set an “outperform” rating for the company in a report on Monday, December 11th. StockNews.com began coverage on shares of Old Dominion Freight Line in a report on Thursday, October 5th. They issued a “hold” rating for the company. Stifel Nicolaus lifted their price objective on shares of Old Dominion Freight Line from $416.00 to $434.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $505.00 to $435.00 and set an “overweight” rating for the company in a report on Thursday, October 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $475.00 to $386.00 in a report on Monday, November 27th.

View Our Latest Research Report on Old Dominion Freight Line

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 24,100 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $390.59, for a total value of $9,413,219.00. Following the sale, the chairman now directly owns 766,754 shares in the company, valued at $299,486,444.86. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Chairman David S. Congdon sold 12,000 shares of Old Dominion Freight Line stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $390.15, for a total value of $4,681,800.00. Following the transaction, the chairman now owns 801,004 shares of the company’s stock, valued at approximately $312,511,710.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 24,100 shares of Old Dominion Freight Line stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $390.59, for a total value of $9,413,219.00. Following the completion of the transaction, the chairman now directly owns 766,754 shares in the company, valued at approximately $299,486,444.86. The disclosure for this sale can be found here. 10.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently bought and sold shares of ODFL. Bank of New York Mellon Corp increased its stake in Old Dominion Freight Line by 64.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,599,786 shares of the transportation company’s stock worth $1,331,021,000 after purchasing an additional 1,415,329 shares in the last quarter. Norges Bank purchased a new position in Old Dominion Freight Line in the 4th quarter worth about $302,241,000. Osaic Holdings Inc. grew its stake in Old Dominion Freight Line by 1,823.4% during the 2nd quarter. Osaic Holdings Inc. now owns 1,000,632 shares of the transportation company’s stock valued at $17,681,000 after acquiring an additional 948,609 shares in the last quarter. International Assets Investment Management LLC grew its stake in Old Dominion Freight Line by 39,016.7% during the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock valued at $285,869,000 after acquiring an additional 703,471 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in Old Dominion Freight Line by 117.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 761,387 shares of the transportation company’s stock valued at $195,129,000 after acquiring an additional 411,516 shares in the last quarter. Hedge funds and other institutional investors own 72.14% of the company’s stock.

Old Dominion Freight Line Stock Up 1.0 %

ODFL stock opened at $395.44 on Friday. Old Dominion Freight Line has a twelve month low of $295.80 and a twelve month high of $438.05. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $43.15 billion, a P/E ratio of 35.18, a PEG ratio of 3.91 and a beta of 1.02. The firm has a 50 day simple moving average of $394.27 and a 200-day simple moving average of $400.54.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.20. Old Dominion Freight Line had a net margin of 21.16% and a return on equity of 32.45%. The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter last year, the company earned $3.36 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts predict that Old Dominion Freight Line will post 11.18 earnings per share for the current fiscal year.

Old Dominion Freight Line Company Profile

(Get Free Report

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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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