Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) PT at $296.25

Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Rating) has earned a consensus recommendation of “Hold” from the nineteen research firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $296.25.

Several brokerages have recently weighed in on ODFL. UBS Group reduced their target price on Old Dominion Freight Line from $288.00 to $279.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. StockNews.com initiated coverage on shares of Old Dominion Freight Line in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley decreased their price target on shares of Old Dominion Freight Line from $314.00 to $310.00 and set an “equal weight” rating on the stock in a research note on Monday, October 3rd. Vertical Research cut Old Dominion Freight Line from a “hold” rating to a “sell” rating and set a $260.00 price objective on the stock. in a report on Wednesday, August 17th. Finally, Citigroup lifted their price objective on Old Dominion Freight Line to $275.00 in a report on Thursday, October 13th.

Insiders Place Their Bets

In related news, Chairman David S. Congdon sold 32,000 shares of the business’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $313.95, for a total transaction of $10,046,400.00. Following the completion of the transaction, the chairman now owns 858,861 shares in the company, valued at $269,639,410.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently modified their holdings of the company. Toroso Investments LLC boosted its stake in Old Dominion Freight Line by 4.8% in the third quarter. Toroso Investments LLC now owns 2,177 shares of the transportation company’s stock valued at $542,000 after acquiring an additional 100 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in Old Dominion Freight Line by 2.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,869 shares of the transportation company’s stock worth $465,000 after purchasing an additional 50 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in Old Dominion Freight Line in the third quarter valued at about $2,117,000. Industrial Alliance Investment Management Inc. grew its position in shares of Old Dominion Freight Line by 2.5% in the third quarter. Industrial Alliance Investment Management Inc. now owns 6,967 shares of the transportation company’s stock valued at $1,733,000 after purchasing an additional 167 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its position in shares of Old Dominion Freight Line by 24.9% in the third quarter. Glenmede Trust Co. NA now owns 56,474 shares of the transportation company’s stock valued at $14,048,000 after purchasing an additional 11,266 shares during the last quarter. Institutional investors and hedge funds own 73.48% of the company’s stock.

Old Dominion Freight Line Stock Up 0.4 %

Old Dominion Freight Line stock opened at $297.03 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.74 and a current ratio of 1.74. The business’s 50-day simple moving average is $273.17 and its two-hundred day simple moving average is $271.13. The company has a market cap of $32.82 billion, a PE ratio of 25.45, a PEG ratio of 1.76 and a beta of 1.06. Old Dominion Freight Line has a fifty-two week low of $231.31 and a fifty-two week high of $373.58.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 21st. Shareholders of record on Wednesday, December 7th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $1.20 annualized dividend and a dividend yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 10.28%.

About Old Dominion Freight Line

(Get Rating)

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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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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