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

Susquehanna restated their neutral rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report released on Tuesday, Marketbeat 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 commented on ODFL. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Barclays lifted their price target on Old Dominion Freight Line from $190.00 to $220.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 13th. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. Stephens reissued an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group upped their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $204.12.

Old Dominion Freight Line Stock Down 1.1 %

Shares of NASDAQ:ODFL opened at $180.64 on Tuesday. The company has a 50 day moving average price of $204.29 and a two-hundred day moving average price of $197.49. The company has a market capitalization of $38.57 billion, a PE ratio of 31.58, 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 company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $1.54 earnings per share. The company’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts forecast that Old Dominion Freight Line will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

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

Insider Transactions at Old Dominion Freight Line

In related news, 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 transaction of $676,320.00. Following the completion of the sale, the director now directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors and hedge funds have recently made changes to their positions in ODFL. Wellington Management Group LLP raised its holdings in Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after buying an additional 750,073 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Old Dominion Freight Line by 19,764.0% during the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after purchasing an additional 681,858 shares during the period. Bristol Gate Capital Partners Inc. bought a new stake in shares of Old Dominion Freight Line in the second quarter worth $92,697,000. Renaissance Technologies LLC acquired a new stake in shares of Old Dominion Freight Line in the second quarter valued at about $82,398,000. Finally, Franklin Resources Inc. lifted its stake in shares of Old Dominion Freight Line by 74.8% in the third quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock worth $207,068,000 after acquiring an additional 437,700 shares during the period. Institutional investors own 77.82% of the company’s stock.

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.