Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Price Target at $199.44

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been assigned an average recommendation of “Hold” from the twenty analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $196.39.

A number of equities analysts have issued reports on ODFL shares. Citigroup assumed coverage on Old Dominion Freight Line in a research note on Wednesday, October 9th. They set a “neutral” rating and a $206.00 price target for the company. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their target price for the company from $209.00 to $197.00 in a research note on Monday. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Robert W. Baird reduced their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Evercore ISI dropped their target price on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a report on Thursday, October 3rd.

Old Dominion Freight Line Stock Performance

ODFL stock opened at $191.81 on Tuesday. The company has a 50-day simple moving average of $195.58 and a 200 day simple moving average of $190.85. The company has a market capitalization of $41.68 billion, a P/E ratio of 32.87, a PEG ratio of 4.20 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80.

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, topping analysts’ consensus estimates of $1.42 by $0.01. The company 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 21.38% and a return on equity of 30.33%. During the same period in the prior year, the business posted $1.54 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Sell-side analysts predict that Old Dominion Freight Line will post 5.56 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 17.82%.

Insider Activity

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC grew its stake in shares of Old Dominion Freight Line by 97.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 2,082 shares of the transportation company’s stock valued at $457,000 after buying an additional 1,030 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Old Dominion Freight Line by 97.6% during the 1st quarter. International Assets Investment Management LLC now owns 3,438 shares of the transportation company’s stock worth $750,000 after purchasing an additional 1,698 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Old Dominion Freight Line by 51.5% during the 1st quarter. Salem Investment Counselors Inc. now owns 200 shares of the transportation company’s stock worth $44,000 after purchasing an additional 68 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of Old Dominion Freight Line by 111.7% during the 1st quarter. Ballentine Partners LLC now owns 1,634 shares of the transportation company’s stock valued at $358,000 after purchasing an additional 862 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its stake in shares of Old Dominion Freight Line by 94.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,710 shares of the transportation company’s stock valued at $375,000 after purchasing an additional 829 shares during the last quarter. Hedge funds and other 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.