Jefferies Financial Group Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $190.00

Old Dominion Freight Line (NASDAQ:ODFL - Free Report) had its target price hoisted by Jefferies Financial Group from $185.00 to $190.00 in a research report report published on Friday,Benzinga reports. They currently have a hold rating on the transportation company's stock.

A number of other equities research analysts also recently weighed in on ODFL. Argus downgraded shares of Old Dominion Freight Line from a "buy" rating to a "hold" rating in a report on Tuesday, November 12th. TD Cowen reduced 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 research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Stephens reaffirmed an "overweight" rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. Finally, BMO Capital Markets reduced their price objective on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and a consensus target price of $203.33.

Old Dominion Freight Line Price Performance

NASDAQ ODFL traded down $3.17 on Friday, reaching $176.41. The company's stock had a trading volume of 1,045,690 shares, compared to its average volume of 1,195,265. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. 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 stock has a market cap of $37.66 billion, a PE ratio of 30.84, a PEG ratio of 4.21 and a beta of 1.05. The firm's 50 day moving average is $203.37 and its two-hundred day moving average is $197.24.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the company earned $1.54 EPS. Old Dominion Freight Line's revenue was down 3.0% on a year-over-year basis. As a group, sell-side analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.59%. Old Dominion Freight Line's dividend payout ratio (DPR) is presently 18.18%.

Insider Buying and Selling 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 completion of the sale, the director now directly owns 97,890 shares of the company's stock, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of 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. Corporate insiders own 9.90% of the company's stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds have recently modified their holdings of the business. Nordea Investment Management AB boosted its position in shares of Old Dominion Freight Line by 1.4% in the fourth quarter. Nordea Investment Management AB now owns 15,629 shares of the transportation company's stock valued at $2,788,000 after acquiring an additional 213 shares during the period. Central Pacific Bank Trust Division boosted its position in shares of Old Dominion Freight Line by 4.9% in the fourth quarter. Central Pacific Bank Trust Division now owns 3,858 shares of the transportation company's stock valued at $681,000 after acquiring an additional 179 shares during the period. GAMMA Investing LLC boosted its position in shares of Old Dominion Freight Line by 12.1% in the fourth quarter. GAMMA Investing LLC now owns 2,091 shares of the transportation company's stock valued at $369,000 after acquiring an additional 226 shares during the period. Versant Capital Management Inc lifted its position in Old Dominion Freight Line by 45.5% in the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company's stock worth $62,000 after purchasing an additional 110 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Old Dominion Freight Line by 26.9% in the third quarter. Principal Financial Group Inc. now owns 421,140 shares of the transportation company's stock worth $83,655,000 after purchasing an additional 89,395 shares during the period. 77.82% of the stock is owned by institutional investors.

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.