Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Old Dominion Freight Line (NASDAQ:ODFL) had its price target raised by Jefferies Financial Group from $185.00 to $190.00 in a report released 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 issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Barclays upped their price target 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. BMO Capital Markets lowered their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Susquehanna reissued a “neutral” rating and issued a $195.00 target price (down from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday. Finally, Robert W. Baird decreased their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $203.33.

Old Dominion Freight Line Stock Down 1.8 %

ODFL stock opened at $176.41 on Friday. The company has a market cap of $37.66 billion, a price-to-earnings ratio of 30.84, a P/E/G ratio of 4.21 and a beta of 1.05. 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 business’s 50-day moving average is $203.37 and its two-hundred day moving average is $197.24. 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 issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.01. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.54 EPS. As a group, analysts forecast that Old Dominion Freight Line will post 5.42 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

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

Insider Activity

In related news, Director Greg C. Gantt sold 7,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the transaction, the director now owns 97,890 shares in the company, valued at approximately $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total transaction of $676,320.00. Following the sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its position in Old Dominion Freight Line by 3.8% in the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after buying an additional 279,946 shares during the period. Geode Capital Management LLC boosted its stake in Old Dominion Freight Line by 6.0% in the third quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock valued at $959,005,000 after acquiring an additional 275,236 shares in the last quarter. Wellington Management Group LLP grew its stake in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after buying an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Old Dominion Freight Line by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock worth $264,157,000 after acquiring an additional 57,301 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Old Dominion Freight Line by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,203,666 shares of the transportation company’s stock valued at $239,096,000 after purchasing an additional 78,587 shares during the period. Hedge funds and other institutional investors 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.