Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $200.00 Average Target Price from Analysts

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) have been assigned an average rating of "Hold" from the twenty-one brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $200.00.

Several brokerages have commented on ODFL. JPMorgan Chase & Co. lowered 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 research report on Friday, September 6th. Raymond James boosted their price objective on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Robert W. Baird lowered their price objective on shares of 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. Evercore ISI lowered 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, October 3rd. Finally, Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday.

Old Dominion Freight Line Price Performance

Shares of ODFL stock traded down $7.86 during trading on Friday, hitting $215.57. The company had a trading volume of 1,683,188 shares, compared to its average volume of 1,550,592. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. 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. The stock's 50-day moving average price is $201.32 and its 200 day moving average price is $191.30. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating 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 business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned $1.54 earnings per share. The company's revenue was down 3.0% on a year-over-year basis. Equities analysts expect that Old Dominion Freight Line will post 5.46 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $225.44, for a total transaction of $676,320.00. Following the transaction, the director now owns 7,383 shares of the company's stock, valued at $1,664,423.52. This represents a 28.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently made changes to their positions in ODFL. Sequoia Financial Advisors LLC increased its stake in Old Dominion Freight Line by 20.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company's stock valued at $1,188,000 after buying an additional 1,017 shares during the last quarter. Truist Financial Corp increased its stake in Old Dominion Freight Line by 7.6% in the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company's stock valued at $18,754,000 after buying an additional 7,460 shares during the last quarter. Sei Investments Co. increased its stake in Old Dominion Freight Line by 98.6% in the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company's stock valued at $9,471,000 after buying an additional 21,438 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its stake in Old Dominion Freight Line by 85.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 214,954 shares of the transportation company's stock valued at $47,041,000 after buying an additional 99,228 shares during the last quarter. Finally, Ground Swell Capital LLC increased its stake in Old Dominion Freight Line by 262.6% in the 3rd quarter. Ground Swell Capital LLC now owns 6,701 shares of the transportation company's stock valued at $1,331,000 after buying an additional 4,853 shares during the last quarter. Institutional investors and hedge funds own 77.82% of the company's stock.

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.