Old Dominion Freight Line (NASDAQ:ODFL) Given New $241.00 Price Target at Citigroup

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective boosted by Citigroup from $201.00 to $241.00 in a report released on Tuesday,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other analysts also recently commented on ODFL. Robert W. Baird reduced their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Raymond James raised their target price on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lowered their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $209.00 to $197.00 in a report on Monday, October 21st. Finally, Barclays lowered their target price on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $200.00.

Old Dominion Freight Line Trading Down 3.5 %

Shares of ODFL stock opened at $215.57 on Tuesday. The firm has a market capitalization of $46.02 billion, a P/E ratio of 37.69, a price-to-earnings-growth ratio of 6.36 and a beta of 0.99. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The firm’s fifty day simple moving average is $201.32 and its 200 day simple moving average is $191.23. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted $1.54 EPS. The business’s revenue was down 3.0% compared to the same quarter last year. As a group, sell-side analysts predict that Old Dominion Freight Line will post 5.46 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.48%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insider Transactions at Old Dominion Freight Line

In related news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total value of $1,400,490.00. Following the transaction, the director now owns 97,890 shares of the company’s stock, valued at $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,975 shares of company stock valued at $10,062,478 over the last three months. 9.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Old Dominion Freight Line by 117.0% in the first 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 during the last quarter. Capital Research Global Investors increased its position in shares of Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after buying an additional 2,447,121 shares during the period. Capital World Investors raised its position in shares of Old Dominion Freight Line by 101.0% in the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after acquiring an additional 1,228,116 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Old Dominion Freight Line by 283.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after buying an additional 815,817 shares during the period. 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.