Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $215.43 Consensus Price Target from Analysts

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has received a consensus recommendation of “Hold” from the twenty-six brokerages that are covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $215.5652.

A number of equities research analysts have recently weighed in on the company. Barclays set a $210.00 price target on Old Dominion Freight Line and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, June 3rd. Morgan Stanley set a $235.00 target price on Old Dominion Freight Line and gave the stock an “overweight” rating in a report on Thursday, April 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 4th. Finally, Evercore set a $219.00 target price on Old Dominion Freight Line in a report on Thursday, April 30th.

Insider Activity at Old Dominion Freight Line

In related news, Director Greg C. Gantt sold 22,107 shares of Old Dominion Freight Line stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the completion of the sale, the director owned 88,551 shares of the company’s stock, valued at $16,959,287.52. The trade was a 19.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently modified their holdings of ODFL. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the period. Reflection Asset Management acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $28,000. Evolution Wealth Management Inc. acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth about $29,000. DT Investment Partners LLC lifted its holdings in Old Dominion Freight Line by 600.0% in the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 180 shares during the period. Finally, Raiffeisen Bank International AG acquired a new position in Old Dominion Freight Line in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $231.62 on Friday. Old Dominion Freight Line has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. The firm has a market capitalization of $48.17 billion, a price-to-earnings ratio of 48.46, a PEG ratio of 4.81 and a beta of 1.17. The stock’s 50-day simple moving average is $216.62 and its 200-day simple moving average is $191.34.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, April 29th. The transportation company reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. Old Dominion Freight Line had a return on equity of 23.42% and a net margin of 18.46%.The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. The company’s revenue was down 2.9% on a year-over-year basis. As a group, equities analysts forecast that Old Dominion Freight Line will post 5.38 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. Old Dominion Freight Line’s payout ratio is 24.27%.

About Old Dominion Freight Line

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.