Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) PT at $191.08

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned an average recommendation of “Hold” from the twenty-six brokerages that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $191.1250.

Several brokerages have recently weighed in on ODFL. Evercore raised their price target on shares of Old Dominion Freight Line from $200.00 to $201.00 in a research note on Friday, March 27th. Barclays set a $185.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Raymond James Financial raised their target price on shares of Old Dominion Freight Line from $180.00 to $213.00 and gave the company an “outperform” rating in a research report on Friday, February 6th. Stephens reiterated an “overweight” rating and issued a $232.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Old Dominion Freight Line from $168.00 to $182.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 10th.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Bradley R. Gabosch sold 3,134 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $194.27, for a total value of $608,842.18. Following the completion of the transaction, the director directly owned 11,278 shares in the company, valued at $2,190,977.06. This trade represents a 21.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 52,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $194.77, for a total value of $10,128,040.00. Following the transaction, the chairman directly owned 712,800 shares in the company, valued at $138,832,056. This trade represents a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 80,134 shares of company stock valued at $15,640,132. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in ODFL. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Old Dominion Freight Line by 175.7% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 123 shares during the period. Westside Investment Management Inc. lifted its stake in Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares during the last quarter. Reflection Asset Management bought a new position in Old Dominion Freight Line during the fourth quarter worth about $28,000. DT Investment Partners LLC increased its position in Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after buying an additional 180 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line during the third quarter worth approximately $37,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $198.00 on Tuesday. The firm has a market cap of $41.27 billion, a price-to-earnings ratio of 40.99, a price-to-earnings-growth ratio of 4.18 and a beta of 1.20. The stock’s 50-day moving average is $191.79 and its 200-day moving average is $163.41. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $221.63.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 4th. The transportation company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period last year, the company earned $1.23 earnings per share. Old Dominion Freight Line’s quarterly revenue was down 5.7% on a year-over-year basis. On average, equities analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, March 4th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is currently 24.02%.

Old Dominion Freight Line Company Profile

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.