Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Price Target at $220.00

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given a consensus rating of “Hold” by the twenty-six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $220.7391.

ODFL has been the topic of a number of research reports. Barclays lifted their price objective on Old Dominion Freight Line from $210.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. TD Cowen reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. UBS Group increased their price objective on Old Dominion Freight Line from $216.00 to $224.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on shares of Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday, June 8th. Finally, Rothschild & Co Redburn decreased their price objective on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the sale, the director directly owned 88,551 shares in the company, valued at approximately $16,959,287.52. The trade was a 19.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 10.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ODFL. Bogart Wealth LLC lifted its position in shares of Old Dominion Freight Line by 9.9% in the first quarter. Bogart Wealth LLC now owns 511 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 46 shares in the last quarter. Private Advisor Group LLC increased its stake in Old Dominion Freight Line by 1.3% during the first quarter. Private Advisor Group LLC now owns 4,164 shares of the transportation company’s stock worth $814,000 after acquiring an additional 55 shares during the last quarter. Keybank National Association OH raised its holdings in Old Dominion Freight Line by 2.3% in the 1st quarter. Keybank National Association OH now owns 2,450 shares of the transportation company’s stock valued at $479,000 after buying an additional 56 shares during the period. Deseret Mutual Benefit Administrators raised its stake in shares of Old Dominion Freight Line by 9.7% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 645 shares of the transportation company’s stock valued at $101,000 after acquiring an additional 57 shares during the period. Finally, Verdence Capital Advisors LLC raised its position in Old Dominion Freight Line by 1.2% in the fourth quarter. Verdence Capital Advisors LLC now owns 5,181 shares of the transportation company’s stock valued at $812,000 after purchasing an additional 60 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Up 2.3%

NASDAQ ODFL opened at $232.90 on Thursday. Old Dominion Freight Line has a 52 week low of $126.01 and a 52 week high of $252.03. The company has a market capitalization of $48.44 billion, a P/E ratio of 48.72, a price-to-earnings-growth ratio of 4.16 and a beta of 1.18. The stock’s 50-day moving average price is $219.14 and its 200-day moving average price is $200.42.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business posted $1.19 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. Research analysts anticipate that Old Dominion Freight Line will post 5.5 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date was Wednesday, June 3rd. Old Dominion Freight Line’s payout ratio is presently 24.27%.

About Old Dominion Freight Line

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.