Analysts Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Price Target at $190.50

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received an average rating of “Hold” from the twenty-six research firms that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $190.50.

A number of brokerages have recently commented on ODFL. Wolfe Research set a $138.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, January 8th. UBS Group restated a “neutral” rating and issued a $202.00 target price (up from $164.00) on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Susquehanna reaffirmed a “neutral” rating and issued a $205.00 target price (up from $185.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 11th. Morgan Stanley reiterated an “overweight” rating and set a $209.00 target price (up from $190.00) on shares of Old Dominion Freight Line in a research note on Wednesday, February 4th. Finally, Wall Street Zen raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Director Bradley R. Gabosch sold 3,134 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $194.27, for a total transaction of $608,842.18. Following the completion of the sale, the director owned 11,278 shares of the company’s stock, valued at $2,190,977.06. This represents a 21.75% 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 52,000 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $194.77, for a total transaction of $10,128,040.00. Following the sale, the chairman directly owned 712,800 shares of the company’s stock, valued at $138,832,056. The trade was a 6.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 80,134 shares of company stock valued at $15,640,132. 10.00% of the stock is owned by company insiders.

Institutional Trading of Old Dominion Freight Line

Large investors have recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. bought a new position in Old Dominion Freight Line in the second quarter worth approximately $26,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Old Dominion Freight Line by 175.7% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after acquiring an additional 123 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 98 shares during the period. Reflection Asset Management purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $28,000. Finally, DT Investment Partners LLC increased its stake in shares of Old Dominion Freight Line by 600.0% in the 4th quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock worth $33,000 after purchasing an additional 180 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $193.97 on Friday. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $221.63. The business’s fifty day moving average is $184.00 and its 200 day moving average is $158.10. The stock has a market capitalization of $40.43 billion, a PE ratio of 40.16, a price-to-earnings-growth ratio of 4.08 and a beta of 1.23.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.Old Dominion Freight Line’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.23 EPS. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 24.02%.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.