Analysts Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) PT at $204.00

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has received an average recommendation of “Hold” from the twenty research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $204.12.

A number of brokerages recently commented on ODFL. BMO Capital Markets decreased their target price on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Susquehanna reaffirmed a “neutral” rating and issued a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday. Citigroup lifted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Finally, Evercore ISI dropped their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd.

Insider Activity at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now directly owns 7,383 shares in the company, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the completion of the transaction, the director now directly owns 97,890 shares of the company’s stock, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at approximately $25,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line during the third quarter worth $45,000. Cullen Frost Bankers Inc. increased its position in 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 during the last quarter. Brown Brothers Harriman & Co. raised 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 valued at $53,000 after acquiring an additional 215 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter worth about $64,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $179.58 on Friday. The company has a 50-day moving average price of $203.37 and a 200-day moving average price of $197.24. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $233.26. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $38.34 billion, a P/E ratio of 31.40, a PEG ratio of 4.21 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations 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 revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.54 earnings per share. Equities research analysts anticipate that Old Dominion Freight Line will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.58%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

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.