Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $190.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lifted by Jefferies Financial Group from $185.00 to $190.00 in a research report sent to investors on Friday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the transportation company’s stock.

A number of other analysts also recently issued reports on the company. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup raised their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. TD Cowen cut their price objective on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Barclays raised their price objective on Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, BMO Capital Markets cut their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Trading Down 1.8 %

Shares of ODFL stock opened at $176.41 on Friday. The stock’s fifty day moving average is $202.88 and its two-hundred day moving average is $197.55. 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 $37.66 billion, a P/E ratio of 30.84, a PEG ratio of 4.21 and a beta of 1.05. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm earned $1.54 EPS. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Research analysts expect that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the stock in a transaction 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 transaction, the director now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Benjamin Edwards Inc. purchased a new stake in Old Dominion Freight Line during the 2nd quarter worth about $25,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line during the third quarter worth about $45,000. Brown Brothers Harriman & Co. grew its holdings in shares of Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares in the last quarter. Quarry LP acquired a new position in Old Dominion Freight Line in the 2nd quarter valued at $60,000. Finally, Versant Capital Management Inc lifted its stake in shares of Old Dominion Freight Line by 45.5% during the 4th 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. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.