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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been assigned an average recommendation of “Hold” from the twenty analysts that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $204.12.

A number of brokerages recently issued reports on ODFL. The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Robert W. Baird cut their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Susquehanna reaffirmed a “neutral” rating and set a $195.00 price objective (down from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday. TD Cowen lowered their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction on 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 sale, the director now directly owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 owns 7,383 shares in the company, valued at $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. 9.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after acquiring an additional 750,073 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after buying an additional 681,858 shares in the last quarter. Bristol Gate Capital Partners Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $92,697,000. Renaissance Technologies LLC bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $82,398,000. Finally, Franklin Resources Inc. boosted its stake in Old Dominion Freight Line by 74.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after buying an additional 437,700 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 1.1 %

Shares of Old Dominion Freight Line stock opened at $180.64 on Friday. The business has a fifty day simple moving average of $204.29 and a 200-day simple moving average of $197.49. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm has a market cap of $38.57 billion, a price-to-earnings ratio of 31.58, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued 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. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. Old Dominion Freight Line’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 EPS. On average, equities analysts forecast 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 declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is 18.18%.

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.