Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Has Consensus Price Target of $217.22 According to Brokerages

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been given an average rating of “Hold” by the twenty-six brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $217.22.

ODFL has been the topic of several analyst reports. TD Cowen cut their target price on Old Dominion Freight Line from $233.00 to $226.00 and set a “hold” rating on the stock in a research note on Thursday, October 29th. Raymond James Financial restated an “outperform” rating and set a $210.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, October 29th. Citigroup raised Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their price target for the company from $231.00 to $223.00 in a research note on Tuesday, September 8th. Zacks Research downgraded shares of Old Dominion Freight Line from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Finally, Bank of America reduced their price objective on shares of Old Dominion Freight Line from $240.00 to $205.00 in a research note on Friday, September 4th.

Old Dominion Freight Line Stock Up 1.7%

Shares of ODFL opened at $174.54 on Wednesday. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $252.03. The firm has a market capitalization of $35.96 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 2.79 and a beta of 1.14. The stock’s fifty day simple moving average is $178.75 and its 200-day simple moving average is $201.34.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.04. Old Dominion Freight Line had a return on equity of 25.92% and a net margin of 20.08%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same period last year, the company earned $1.28 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. Analysts anticipate that Old Dominion Freight Line will post 5.96 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 20.86%.

Insider Activity

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the completion of the transaction, the senior vice president directly owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. The trade was a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently modified their holdings of the business. Nykredit A S bought a new position in Old Dominion Freight Line in the second quarter valued at $16,333,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Old Dominion Freight Line during the second quarter worth about $42,410,000. Compass Financial Management LLC purchased a new position in shares of Old Dominion Freight Line in the 2nd quarter worth about $2,158,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Old Dominion Freight Line by 14.7% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock worth $241,367,000 after purchasing an additional 142,809 shares in the last quarter. Finally, Westwind Capital purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter worth about $1,387,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a transportation and logistics company specializing in less-than-truckload (LTL) shipping. It combines freight from multiple customers in its network to transport shipments that do not require an entire truck, and provides pickup and delivery services for businesses. Founded in 1934 by Earl and Lillian Congdon, the company began with a single truck serving routes between Virginia and North Carolina. It has since expanded its service-center network across the United States, offering regional and national freight transportation.