Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Target Price at $204.00

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) has earned an average recommendation of "Hold" from the twenty ratings firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fourteen have issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $204.00.

ODFL has been the topic of a number of research analyst reports. Robert W. Baird lowered their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a "neutral" rating in a research note on Tuesday, November 12th. Susquehanna decreased their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a "positive" rating on the stock in a research note on Thursday, October 24th. Finally, TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a report on Thursday, October 24th.

Insider Transactions at Old Dominion Freight Line

In other news, Director Greg C. Gantt sold 7,000 shares of the 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 sale, the director now directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Leo H. Suggs sold 3,000 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the sale, the director now directly owns 7,383 shares of the company's stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company's stock.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently made changes to their positions in the stock. SevenBridge Financial Group LLC increased its stake in Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company's stock worth $519,000 after buying an additional 50 shares during the period. Advisors Asset Management Inc. increased its position in shares of Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company's stock worth $2,163,000 after acquiring an additional 55 shares during the period. Hantz Financial Services Inc. raised its stake in shares of Old Dominion Freight Line by 3.8% during the third quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company's stock valued at $301,000 after acquiring an additional 56 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Old Dominion Freight Line by 5.0% in the third quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company's stock valued at $294,000 after purchasing an additional 71 shares during the period. Finally, CVA Family Office LLC grew its stake in Old Dominion Freight Line by 23.5% in the third quarter. CVA Family Office LLC now owns 394 shares of the transportation company's stock worth $78,000 after purchasing an additional 75 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded up $5.18 on Friday, hitting $180.91. 1,090,640 shares of the stock traded hands, compared to its average volume of 997,020. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $233.26. The firm has a 50 day simple moving average of $205.07 and a two-hundred day simple moving average of $197.40. The firm has a market cap of $38.62 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 4.21 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business's quarterly revenue was down 3.0% on a year-over-year basis. During the same period last year, the firm earned $1.54 earnings per share. As a group, equities research analysts predict that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, December 4th. Old Dominion Freight Line's dividend payout ratio is currently 18.18%.

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.