Old Dominion Freight Line (NASDAQ:ODFL) Given Hold Rating at Benchmark

Benchmark reiterated their hold rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report released on Thursday, Benzinga reports.

ODFL has been the subject of a number of other research reports. Baird R W raised shares of Old Dominion Freight Line from a hold rating to a strong-buy rating in a research report on Wednesday, May 8th. Susquehanna reduced their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating on the stock in a research note on Wednesday, June 12th. Vertical Research upgraded Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 price target for the company in a report on Monday, April 29th. Bank of America boosted their target price on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the stock a neutral rating in a research report on Monday. Finally, Barclays reduced their target price on Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating for the company in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $201.97.

Old Dominion Freight Line Stock Up 5.7 %

Shares of NASDAQ ODFL opened at $205.70 on Thursday. The firm’s 50-day moving average is $179.87 and its two-hundred day moving average is $198.72. The company has a market capitalization of $44.70 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 2.58 and a beta of 1.00. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Old Dominion Freight Line’s revenue was up 6.1% on a year-over-year basis. Equities analysts anticipate that Old Dominion Freight Line will post 5.85 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Institutional Investors Weigh In On Old Dominion Freight Line

Several institutional investors have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line in the 4th quarter worth $27,000. Farmers & Merchants Investments Inc. increased its holdings in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 62 shares during the last quarter. Atwood & Palmer Inc. raised its stake in shares of Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares in the last quarter. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $29,000. Finally, Fortitude Family Office LLC boosted its position in Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock worth $29,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.