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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received a consensus rating of “Hold” from the twenty-one brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $203.33.

A number of equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research note on Friday. Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Citigroup upped their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their target price for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. Finally, Evercore ISI lowered 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 research report on Thursday, October 3rd.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $176.41 on Friday. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26. The stock has a fifty day moving average of $202.88 and a 200-day moving average of $197.40. The company has a market capitalization of $37.66 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, equities analysts anticipate that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insider Buying and Selling

In related news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on 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 owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now directly owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents 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 Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after acquiring an additional 750,073 shares in the last quarter. International Assets Investment Management LLC increased its stake 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 acquiring 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 in the 2nd quarter worth about $92,697,000. Renaissance Technologies LLC bought a new position in shares of Old Dominion Freight Line in the 2nd quarter worth about $82,398,000. Finally, Franklin Resources Inc. increased its stake in shares of 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 worth $207,068,000 after acquiring an additional 437,700 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

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.