Key Points
- Insider sale: SVP Cecil Jr. Overbey sold 19,952 ODFL shares for approximately $3.96 million, reducing his holdings by 46.73% to 22,746 shares.
- Strong quarterly performance: Old Dominion Freight Line reported quarterly EPS of $1.68, beating estimates by $0.14, while revenue rose 10.4% year over year to $1.55 billion.
- Mixed but generally neutral outlook: Analysts’ consensus rating is “Hold,” with an average price target of $226.55 versus the stock’s $199.43 opening price. The company also declared a quarterly dividend of $0.29 per share.
Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) SVP Cecil Jr. Overbey sold 19,952 shares of the company's stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the transaction, the senior vice president owned 22,746 shares of the company's stock, valued at $4,512,578.94. This represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Old Dominion Freight Line Stock Up 0.5%
ODFL opened at $199.43 on Thursday. The company has a market cap of $41.35 billion, a price-to-earnings ratio of 38.43, a PEG ratio of 3.45 and a beta of 1.18. Old Dominion Freight Line, Inc. has a 52-week low of $126.01 and a 52-week high of $252.03. The firm's fifty day simple moving average is $218.44 and its two-hundred day simple moving average is $210.62.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion during the quarter, compared to analysts' expectations of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share. On average, research analysts forecast that Old Dominion Freight Line, Inc. will post 5.78 EPS for the current year.
Old Dominion Freight Line Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. Old Dominion Freight Line's payout ratio is presently 22.35%.
Institutional Trading of Old Dominion Freight Line
Several large investors have recently bought and sold shares of the business. AustralianSuper Pty Ltd boosted its position in shares of Old Dominion Freight Line by 955.4% during the 4th quarter. AustralianSuper Pty Ltd now owns 75,005 shares of the transportation company's stock worth $11,761,000 after purchasing an additional 67,898 shares during the period. Summitry LLC increased its holdings in Old Dominion Freight Line by 5.4% in the 4th quarter. Summitry LLC now owns 218,175 shares of the transportation company's stock valued at $34,210,000 after purchasing an additional 11,223 shares during the last quarter. Partners Group Holding AG raised its position in Old Dominion Freight Line by 37.0% in the fourth quarter. Partners Group Holding AG now owns 194,631 shares of the transportation company's stock valued at $30,518,000 after purchasing an additional 52,514 shares during the period. M&T Bank Corp raised its position in Old Dominion Freight Line by 76.3% in the fourth quarter. M&T Bank Corp now owns 15,204 shares of the transportation company's stock valued at $2,384,000 after purchasing an additional 6,582 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Old Dominion Freight Line by 15,188.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 407,885 shares of the transportation company's stock worth $63,956,000 after purchasing an additional 405,217 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on ODFL shares. Citigroup reiterated a "neutral" rating and set a $231.00 price objective (up from $228.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Susquehanna raised their target price on Old Dominion Freight Line from $224.00 to $228.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Wells Fargo & Company raised Old Dominion Freight Line from an "underweight" rating to an "overweight" rating and lifted their price target for the stock from $235.00 to $250.00 in a research note on Wednesday, July 8th. TD Cowen reiterated a "hold" rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Finally, Rothschild & Co Redburn reduced their price objective on Old Dominion Freight Line from $176.00 to $172.00 and set a "sell" rating for the company in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $226.55.
Read Our Latest Analysis on Old Dominion Freight Line
About Old Dominion Freight Line
(
Get Free Report)
Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.
The company's core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.
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