Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $201.83 Average Target Price from Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given a consensus rating of “Hold” by the twenty brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $201.83.

ODFL has been the topic of a number of recent research reports. Raymond James increased their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Morgan Stanley reduced their price objective on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an “equal weight” rating for the company in a report on Monday, July 8th. Susquehanna upped their target price on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Wednesday, September 18th. Barclays cut their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 12th. Finally, Stephens reissued an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, September 5th.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $194.75 on Friday. The firm has a market capitalization of $42.32 billion, a P/E ratio of 34.29, a P/E/G ratio of 4.08 and a beta of 0.99. The firm’s 50-day moving average price is $196.31 and its 200-day moving average price is $194.57. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $1.33 EPS. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Old Dominion Freight Line will post 5.62 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Benjamin Edwards Inc. purchased a new position in shares of Old Dominion Freight Line in the second quarter valued at $25,000. Trust Co. of Vermont bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $27,000. Farmers & Merchants Investments Inc. increased its position in shares of Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the period. Atwood & Palmer Inc. lifted its holdings in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares in the last quarter. Finally, Raleigh Capital Management Inc. purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $29,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.