Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Price Target at $202.88

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been given an average rating of “Hold” by the twenty research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $204.00.

A number of equities analysts have issued reports on ODFL shares. Susquehanna cut their target price on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating for the company in a research report on Thursday, October 24th. Bank of America reduced their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their price target for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Stephens reissued an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $198.98 on Wednesday. The business has a 50 day moving average price of $209.48 and a 200 day moving average price of $196.61. The company has a market capitalization of $42.48 billion, a P/E ratio of 34.79, a PEG ratio of 4.21 and a beta of 1.00. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the business posted $1.54 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. Sell-side analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insider Buying and Selling

In related news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were 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 directly owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total value of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin Edwards Inc. acquired a new position in shares of Old Dominion Freight Line during the second quarter worth $25,000. LRI Investments LLC boosted its position in Old Dominion Freight Line by 73.1% in the 2nd quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after buying an additional 79 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Old Dominion Freight Line by 472.5% during the second quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 189 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line during the third quarter worth about $45,000. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.