Analysts Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Target Price at $226.55

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been given a consensus recommendation of “Hold” by the twenty-five analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $226.5455.

Several analysts have commented on ODFL shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a research note on Monday, July 6th. UBS Group reissued a “neutral” rating and set a $228.00 price target (up from $224.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Raymond James Financial restated an “outperform” rating and set a $241.00 price objective (up from $224.00) on shares of Old Dominion Freight Line in a report on Monday, July 13th. Weiss Ratings downgraded Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Finally, JPMorgan Chase & Co. lifted their price objective on Old Dominion Freight Line from $197.00 to $234.00 and gave the company a “neutral” rating in a research report on Monday, June 8th.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $185.75 on Friday. The stock has a market capitalization of $38.52 billion, a P/E ratio of 35.79, a P/E/G ratio of 3.23 and a beta of 1.16. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $252.03. The firm’s 50-day moving average is $215.26 and its two-hundred day moving average is $210.57.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.54 billion. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 earnings per share. As a group, analysts forecast that Old Dominion Freight Line will post 5.78 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.35%.

Insider Buying and Selling

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of Old Dominion Freight Line 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 sale, the senior vice president owned 22,746 shares in the company, valued at $4,512,578.94. The trade was a 46.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently modified their holdings of the stock. Bell Investment Advisors Inc acquired a new position in Old Dominion Freight Line during the second quarter worth approximately $25,000. Solstein Capital LLC acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at $26,000. EFG International AG acquired a new position in shares of Old Dominion Freight Line in the 2nd quarter valued at $29,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $30,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Old Dominion Freight Line by 80.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the period. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.