Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $202.88 Average Price Target from Analysts

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given a consensus rating of “Hold” by the twenty analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $204.00.

ODFL has been the topic of several research reports. The Goldman Sachs Group raised their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI lowered their price target on 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. Citigroup increased their price target on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Stephens reissued an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price target for the company from $209.00 to $197.00 in a research report on Monday, October 21st.

Insider Activity

In related news, Director Greg C. Gantt sold 7,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 97,890 shares in the company, valued at $19,584,852.30. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the director now owns 7,383 shares in the company, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. LRI Investments LLC grew its position in Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 79 shares in the last quarter. Cullen Frost Bankers Inc. boosted 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 purchasing an additional 189 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line during the third quarter worth $45,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Stock Down 1.2 %

Shares of ODFL opened at $200.69 on Wednesday. The company’s 50-day moving average price is $209.13 and its 200 day moving average price is $195.93. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market cap of $42.85 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 4.29 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The business 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%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. On average, sell-side analysts forecast that Old Dominion Freight Line will post 5.43 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.52%. Old Dominion Freight Line’s payout ratio 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.