Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $200.88 Consensus Target Price from Analysts

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned a consensus rating of “Hold” from the nineteen research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $200.88.

ODFL has been the subject of a number of analyst reports. Susquehanna lowered their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating for the company in a report on Wednesday, June 12th. Barclays dropped their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 12th. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research note on Thursday, July 25th. Robert W. Baird increased their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Raymond James lifted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th.

Old Dominion Freight Line Stock Up 0.4 %

NASDAQ:ODFL opened at $195.64 on Monday. The stock has a fifty day simple moving average of $193.69 and a 200-day simple moving average of $197.82. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The company has a market cap of $42.51 billion, a price-to-earnings ratio of 34.44, a price-to-earnings-growth ratio of 3.76 and a beta of 1.00. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 EPS. Analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line in the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line in the fourth quarter valued at approximately $29,000. Neo Ivy Capital Management purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $40,000. Farmers & Merchants Investments Inc. boosted its position in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Finally, JFS Wealth Advisors LLC grew its stake in shares of Old Dominion Freight Line by 135.7% during the 4th quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after purchasing an additional 76 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

About Old Dominion Freight Line

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.