Old Dominion Freight Line (NASDAQ:ODFL) Upgraded to Hold at Vertical Research

Vertical Research upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a sell rating to a hold rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The firm currently has $175.00 price target on the transportation company’s stock.

ODFL has been the topic of a number of other reports. Raymond James raised their target price on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an outperform rating in a research note on Monday, April 15th. Barclays cut their target price on Old Dominion Freight Line from $210.00 to $205.00 and set an equal weight rating on the stock in a research note on Thursday, April 25th. The Goldman Sachs Group raised their price target on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a report on Thursday, February 8th. TD Cowen lowered their price target on Old Dominion Freight Line from $209.00 to $206.00 and set a hold rating on the stock in a report on Friday. Finally, Susquehanna raised their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a report on Thursday, February 8th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line currently has an average rating of Hold and an average target price of $209.08.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $184.24 on Monday. The business’s fifty day moving average price is $219.52 and its 200 day moving average price is $206.13. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80. The stock has a market capitalization of $40.10 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 2.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts forecast that Old Dominion Freight Line will post 6.16 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insider Buying and Selling

In related news, Director John D. Kasarda sold 15,944 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the transaction, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently bought and sold shares of the business. Perigon Wealth Management LLC boosted its position in Old Dominion Freight Line by 97.8% during the 1st quarter. Perigon Wealth Management LLC now owns 1,875 shares of the transportation company’s stock worth $410,000 after acquiring an additional 927 shares during the period. Renaissance Investment Group LLC lifted its holdings in shares of Old Dominion Freight Line by 76.4% during the 1st quarter. Renaissance Investment Group LLC now owns 2,240 shares of the transportation company’s stock valued at $491,000 after buying an additional 970 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in shares of Old Dominion Freight Line by 110.6% during the 1st quarter. Stock Yards Bank & Trust Co. now owns 78,330 shares of the transportation company’s stock valued at $17,179,000 after buying an additional 41,143 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Old Dominion Freight Line by 118.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 389,891 shares of the transportation company’s stock valued at $85,507,000 after buying an additional 211,141 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Old Dominion Freight Line by 3.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 21,784 shares of the transportation company’s stock valued at $4,778,000 after buying an additional 758 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.