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

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned a consensus rating of “Hold” from the twenty brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $196.39.

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and decreased their price target for the company from $209.00 to $197.00 in a research report on Monday, October 21st. Stephens reiterated an “overweight” rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, September 5th. Barclays cut their price objective on Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a report on Thursday. Robert W. Baird dropped their target price 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, Bank of America cut their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a research note on Friday, September 6th.

Old Dominion Freight Line Stock Up 3.1 %

ODFL stock opened at $197.79 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market capitalization of $42.98 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 4.20 and a beta of 0.99. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The stock has a fifty day moving average of $195.53 and a 200-day moving average of $190.44.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly 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. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $1.54 EPS. Old Dominion Freight Line’s revenue was down 3.0% compared to the same quarter last year. As a group, equities research analysts predict that Old Dominion Freight Line will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.53%. Old Dominion Freight Line’s payout ratio is 17.82%.

Insider Buying and Selling

In other news, Chairman David S. Congdon sold 10,000 shares of the business’s 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 transaction, the chairman now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on 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 transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chairman now directly owns 1,391,621 shares in the company, valued at $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 owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after buying an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its stake in Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Old Dominion Freight Line by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Old Dominion Freight Line by 101.0% in the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. 77.82% of the stock is 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.