Old Dominion Freight Line (NASDAQ:ODFL) Announces Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Old Dominion Freight Line (NASDAQ:ODFL) announced its quarterly earnings results on Wednesday. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06, Zacks reports. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded up $3.34 during mid-day trading on Thursday, reaching $196.99. The company’s stock had a trading volume of 650,523 shares, compared to its average volume of 1,432,762. The company has a market capitalization of $42.06 billion, a P/E ratio of 34.56, a PEG ratio of 4.95 and a beta of 1.05. The firm’s fifty day moving average price is $191.21 and its two-hundred day moving average price is $197.70. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

Insider Transactions at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of Old Dominion Freight Line stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ODFL shares. TD Cowen lowered their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. BMO Capital Markets dropped their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Robert W. Baird decreased their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Susquehanna restated a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $203.33.

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.