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

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

Several research firms recently commented on ODFL. Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America reduced their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Wells Fargo & Company lowered their price target on shares of Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th.

Old Dominion Freight Line Stock Up 0.0 %

Shares of NASDAQ:ODFL opened at $198.98 on Wednesday. The firm has a market capitalization of $42.48 billion, a PE ratio of 34.79, a price-to-earnings-growth 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. The firm’s 50-day moving average is $209.48 and its two-hundred day moving average is $196.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. Analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current year.

Old Dominion Freight Line Announces Dividend

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

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This represents a 6.67 % 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, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. LRI Investments LLC raised its position in Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after acquiring an additional 79 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Old Dominion Freight Line by 472.5% in 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 during the period. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth $45,000. Finally, Brown Brothers Harriman & Co. grew its stake in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after purchasing an additional 215 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.