Old Dominion Freight Line (NASDAQ:ODFL) Posts Earnings Results

Old Dominion Freight Line (NASDAQ:ODFL) announced its quarterly earnings data on Wednesday. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01, reports. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%.

Old Dominion Freight Line Trading Down 4.1 %

ODFL traded down $8.13 during mid-day trading on Friday, hitting $188.53. 607,628 shares of the stock were exchanged, compared to its average volume of 1,378,487. The firm’s fifty day moving average is $220.65 and its two-hundred day moving average is $206.61. The company has a market cap of $41.04 billion, a PE ratio of 34.62, a PEG ratio of 2.80 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 1-year low of $147.90 and a 1-year high of $227.80.

Old Dominion Freight Line Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ODFL shares. UBS Group upped their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James boosted their target price on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. lowered their price target on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research report on Thursday. Barclays dropped their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Stifel Nicolaus lifted their target price on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $210.97.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the sale, the director now owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently made changes to their positions in the stock. SYSTM Wealth Solutions LLC raised its holdings in Old Dominion Freight Line by 261.7% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 4,503 shares of the transportation company’s stock worth $988,000 after purchasing an additional 3,258 shares during the period. Verdence Capital Advisors LLC increased its position in shares of Old Dominion Freight Line by 106.9% during the first quarter. Verdence Capital Advisors LLC now owns 3,700 shares of the transportation company’s stock worth $811,000 after acquiring an additional 1,912 shares during the period. Checchi Capital Advisers LLC boosted its stake in Old Dominion Freight Line by 100.5% in the first quarter. Checchi Capital Advisers LLC now owns 2,240 shares of the transportation company’s stock valued at $491,000 after acquiring an additional 1,123 shares in the last quarter. Meridian Wealth Management LLC increased its holdings in Old Dominion Freight Line by 6.2% in the first quarter. Meridian Wealth Management LLC now owns 954 shares of the transportation company’s stock valued at $209,000 after buying an additional 56 shares in the last quarter. Finally, Bogart Wealth LLC boosted its holdings in shares of Old Dominion Freight Line by 220.2% in the 1st quarter. Bogart Wealth LLC now owns 1,332 shares of the transportation company’s stock valued at $292,000 after purchasing an additional 916 shares during the last quarter. Institutional investors and hedge funds 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.