Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $202.44 Average Price Target from Analysts

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned an average recommendation of “Hold” from the twenty-one research firms that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $202.44.

ODFL has been the subject of a number of recent analyst reports. Bank of America reduced their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Wells Fargo & Company decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. BMO Capital Markets dropped their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. TD Cowen decreased their price target on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. Finally, Stifel Nicolaus raised their price objective on Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd.

Insider Activity at Old Dominion Freight Line

In related news, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $35,000. Synergy Asset Management LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $41,000. RPg Family Wealth Advisory LLC purchased a new position in Old Dominion Freight Line in the third quarter valued at approximately $45,000. Brown Brothers Harriman & Co. lifted its position in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after buying an additional 215 shares in the last quarter. Finally, Quarry LP purchased a new stake in Old Dominion Freight Line during the second quarter worth approximately $60,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $193.65 on Thursday. The stock has a market capitalization of $41.34 billion, a P/E ratio of 33.85, a P/E/G ratio of 4.95 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The company’s fifty day moving average is $191.21 and its two-hundred day moving average is $197.70.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. On average, sell-side analysts predict that Old Dominion Freight Line will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.18%.

About Old Dominion Freight Line

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.