Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Price Target at $201.83

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned a consensus recommendation of “Hold” from the twenty brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $201.39.

A number of analysts have issued reports on ODFL shares. JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Bank of America cut their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating for the company in a report on Friday, September 6th. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday. TD Cowen cut their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a report on Friday, September 6th. Finally, Barclays cut their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Wednesday, June 12th.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $190.93 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $41.49 billion, a P/E ratio of 33.61, a P/E/G ratio of 4.08 and a beta of 0.99. Old Dominion Freight Line has a 12-month low of $165.49 and a 12-month high of $227.80. The firm has a 50-day moving average price of $196.29 and a two-hundred day moving average price of $194.56.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.33 EPS. Analysts anticipate that Old Dominion Freight Line will post 5.62 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $282,146,307.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Large investors have recently modified their holdings of the company. Benjamin Edwards Inc. acquired a new stake in shares of Old Dominion Freight Line during the second quarter worth $25,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. increased its position in shares of Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the period. Atwood & Palmer Inc. increased its position in shares of Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after buying an additional 148 shares during the period. Finally, Raleigh Capital Management Inc. acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $29,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.