Old Dominion Freight Line (NASDAQ:ODFL) SVP Gregory B. Plemmons sold 1,249 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $163.39, for a total transaction of $204,074.11. Following the completion of the transaction, the senior vice president now directly owns 5,714 shares of the company’s stock, valued at approximately $933,610.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Old Dominion Freight Line stock traded up $1.57 during trading on Wednesday, reaching $166.52. The company’s stock had a trading volume of 948,814 shares, compared to its average volume of 515,711. Old Dominion Freight Line has a 52-week low of $115.00 and a 52-week high of $170.22. The company has a market cap of $13.29 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.39 and a beta of 1.49. The firm has a 50-day simple moving average of $153.33. The company has a current ratio of 1.92, a quick ratio of 2.19 and a debt-to-equity ratio of 0.02.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, July 25th. The transportation company reported $2.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.11 by $0.05. Old Dominion Freight Line had a net margin of 15.48% and a return on equity of 23.57%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the company earned $1.99 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, analysts predict that Old Dominion Freight Line will post 7.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.41%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 9.21%.
Several institutional investors have recently made changes to their positions in ODFL. Cordasco Financial Network boosted its stake in shares of Old Dominion Freight Line by 77.2% in the 2nd quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 78 shares in the last quarter. CWM LLC boosted its stake in shares of Old Dominion Freight Line by 42.5% in the 1st quarter. CWM LLC now owns 258 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 77 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter valued at $42,000. Kavar Capital Partners LLC purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at $45,000. Finally, Huntington National Bank boosted its stake in shares of Old Dominion Freight Line by 240.8% in the 2nd quarter. Huntington National Bank now owns 409 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 289 shares in the last quarter. 70.83% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. Morgan Stanley set a $144.00 price target on shares of Old Dominion Freight Line and gave the stock a “hold” rating in a research note on Monday, July 8th. Credit Suisse Group boosted their price target on shares of Old Dominion Freight Line from $152.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Robert W. Baird set a $162.00 price target on shares of Old Dominion Freight Line and gave the stock a “hold” rating in a research note on Friday, July 26th. Citigroup boosted their price target on shares of Old Dominion Freight Line from $145.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Finally, Bank of America reissued a “neutral” rating and issued a $150.00 price target (up previously from $144.00) on shares of Old Dominion Freight Line in a research note on Thursday, June 20th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $151.92.
Old Dominion Freight Line Company Profile
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.
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