Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) PT at $200.00

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given an average rating of “Hold” by the twenty-one analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $200.00.

Several brokerages have recently commented on ODFL. 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. TD Cowen dropped their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird lowered their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th.

Old Dominion Freight Line Price Performance

ODFL stock opened at $213.99 on Friday. The company has a 50 day simple moving average of $201.81 and a 200 day simple moving average of $191.58. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The stock has a market cap of $45.69 billion, a price-to-earnings ratio of 37.41, a P/E/G ratio of 4.51 and a beta of 0.99. 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 released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion during 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 company’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 EPS. Research analysts anticipate that Old Dominion Freight Line will post 5.43 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.49%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. This represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now directly owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,975 shares of company stock valued at $10,062,478. Insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank boosted its holdings in shares of Old Dominion Freight Line by 77.7% in the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after purchasing an additional 42,880 shares during the period. Neo Ivy Capital Management purchased a new position in Old Dominion Freight Line during the third quarter worth $512,000. Coldstream Capital Management Inc. grew its holdings in Old Dominion Freight Line by 6.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,639 shares of the transportation company’s stock valued at $728,000 after purchasing an additional 230 shares during the last quarter. Geode Capital Management LLC raised its position in Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after purchasing an additional 275,236 shares during the period. Finally, M&T Bank Corp raised its position in Old Dominion Freight Line by 2.1% in the 3rd quarter. M&T Bank Corp now owns 25,329 shares of the transportation company’s stock worth $5,031,000 after purchasing an additional 520 shares during the period. 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.