Old Dominion Freight Line (NASDAQ:ODFL) – Equities researchers at KeyCorp cut their FY2019 earnings per share estimates for Old Dominion Freight Line in a report issued on Wednesday, December 4th, Zacks Investment Research reports. KeyCorp analyst T. Fowler now anticipates that the transportation company will post earnings of $7.65 per share for the year, down from their prior estimate of $7.75. KeyCorp currently has a “Overweight” rating on the stock. KeyCorp also issued estimates for Old Dominion Freight Line’s Q4 2019 earnings at $1.80 EPS and FY2020 earnings at $8.35 EPS.
A number of other equities analysts also recently commented on the stock. ValuEngine downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. BidaskClub downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th. Bank of America increased their price objective on shares of Old Dominion Freight Line from $172.00 to $175.00 and gave the stock an “underperform” rating in a research note on Wednesday, December 4th. Argus increased their price objective on shares of Old Dominion Freight Line to $205.00 and gave the stock a “positive” rating in a research note on Tuesday, October 29th. Finally, Citigroup set a $185.00 price objective on shares of Old Dominion Freight Line and gave the stock a “hold” rating in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $168.46.
Shares of Old Dominion Freight Line stock traded up $0.68 during trading hours on Friday, reaching $188.93. 214,460 shares of the company’s stock were exchanged, compared to its average volume of 1,341,763. The company has a 50 day moving average of $189.49 and a two-hundred day moving average of $169.86. Old Dominion Freight Line has a fifty-two week low of $117.99 and a fifty-two week high of $197.25. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.02. The stock has a market cap of $15.03 billion, a P/E ratio of 24.14, a P/E/G ratio of 2.98 and a beta of 1.51.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, October 24th. The transportation company reported $2.05 EPS for the quarter, missing the Zacks’ consensus estimate of $2.11 by ($0.06). The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. Old Dominion Freight Line had a net margin of 15.29% and a return on equity of 22.62%. Old Dominion Freight Line’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.17 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 0.36%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 9.21%.
In other Old Dominion Freight Line news, Chairman Earl E. Congdon sold 23,500 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $181.94, for a total transaction of $4,275,590.00. Following the sale, the chairman now owns 10,854 shares of the company’s stock, valued at $1,974,776.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 11.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Resources Management Corp CT ADV bought a new stake in shares of Old Dominion Freight Line during the third quarter worth about $98,000. Man Group plc grew its position in Old Dominion Freight Line by 196.1% in the 3rd quarter. Man Group plc now owns 32,631 shares of the transportation company’s stock worth $5,546,000 after purchasing an additional 21,612 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Old Dominion Freight Line in the third quarter valued at about $5,326,000. Parametric Portfolio Associates LLC boosted its stake in Old Dominion Freight Line by 1.6% in the third quarter. Parametric Portfolio Associates LLC now owns 107,923 shares of the transportation company’s stock valued at $18,344,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its stake in Old Dominion Freight Line by 14.6% in the third quarter. Pictet Asset Management Ltd. now owns 25,900 shares of the transportation company’s stock valued at $4,402,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 75.53% of the company’s stock.
About Old Dominion Freight Line
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.
