Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Has Consensus Price Target of $223.48 According to Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned a consensus rating of “Hold” from the twenty-six research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, fifteen have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $223.48.

Several brokerages recently commented on ODFL. Weiss Ratings lowered Old Dominion Freight Line from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $250.00 to $232.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Susquehanna dropped their price objective on Old Dominion Freight Line from $232.00 to $202.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Wells Fargo & Company raised Old Dominion Freight Line from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $235.00 to $250.00 in a report on Wednesday, July 8th. Finally, Stifel Nicolaus set a $230.00 target price on shares of Old Dominion Freight Line and gave the company a “buy” rating in a research note on Thursday, October 8th.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $186.85 on Friday. The company has a 50-day moving average of $188.08 and a 200-day moving average of $207.66. The company has a market capitalization of $38.75 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 3.11 and a beta of 1.20. Old Dominion Freight Line has a 52 week low of $126.01 and a 52 week high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last released 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 company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.54 billion. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 earnings per share. Sell-side analysts forecast that Old Dominion Freight Line will post 5.86 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were given a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. Old Dominion Freight Line’s payout ratio is 22.35%.

Insiders Place Their Bets

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the sale, the senior vice president owned 22,746 shares of the company’s stock, valued at approximately $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Nykredit A S bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at $16,333,000. Compass Financial Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth $2,158,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth $42,410,000. Park National Corp OH purchased a new stake in shares of Old Dominion Freight Line in the 1st quarter worth $1,056,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in 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 during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.