Old Dominion Freight Line (NASDAQ:ODFL) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $182.42 on Friday. The firm has a market capitalization of $39.71 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 3.07 and a beta of 1.02. The stock’s 50-day simple moving average is $220.06 and its 200-day simple moving average is $206.41. Old Dominion Freight Line has a fifty-two week low of $147.90 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.29.

Old Dominion Freight Line Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Analyst Ratings Changes

ODFL has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research note on Thursday. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research note on Friday. Evercore ISI dropped their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Susquehanna lifted their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research note on Thursday, February 8th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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 dated 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 completion of the sale, the director now directly 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 accessible through this hyperlink. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $27,000. Trust Co. of Vermont purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $27,000. Farmers & Merchants Investments Inc. boosted its position in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the period. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter worth about $29,000. Finally, Headinvest LLC purchased a new stake in shares of Old Dominion Freight Line in the third quarter worth about $30,000. 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.