Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $206.29 Average Price Target from Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has received a consensus recommendation of “Hold” from the twenty-six ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $206.2917.

A number of research firms have commented on ODFL. Argus raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Thursday, February 12th. Barclays set a $210.00 price objective on shares of Old Dominion Freight Line and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Citigroup reaffirmed a “neutral” rating and issued a $225.00 price objective (up from $218.00) on shares of Old Dominion Freight Line in a report on Thursday, April 30th. Truist Financial set a $225.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 5th. Finally, Robert W. Baird set a $229.00 price target on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a report on Tuesday, April 28th.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $210.47 on Wednesday. The company has a market cap of $43.77 billion, a PE ratio of 44.03, a P/E/G ratio of 4.31 and a beta of 1.17. The company has a fifty day moving average price of $201.08 and a two-hundred day moving average price of $179.54. Old Dominion Freight Line has a 12 month low of $126.01 and a 12 month high of $233.79.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 29th. The transportation company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.09. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.31 billion. Old Dominion Freight Line had a net margin of 18.46% and a return on equity of 23.42%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 earnings per share. Equities research analysts anticipate that Old Dominion Freight Line will post 5.32 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders 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 annualized dividend and a dividend yield of 0.6%. Old Dominion Freight Line’s payout ratio is 24.27%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, insider Earl E. Congdon sold 25,000 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $196.13, for a total transaction of $4,903,250.00. Following the completion of the transaction, the insider owned 2,162,113 shares of the company’s stock, valued at approximately $424,055,222.69. The trade was a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Greg C. Gantt sold 22,107 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $191.52, for a total transaction of $4,233,932.64. Following the transaction, the director directly owned 88,551 shares of the company’s stock, valued at approximately $16,959,287.52. This trade represents a 19.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 10.00% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC boosted 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 valued at $27,000 after acquiring an additional 62 shares during the period. Evolution Wealth Management Inc. acquired a new position in shares of Old Dominion Freight Line during the first quarter valued at $29,000. Reflection Asset Management acquired a new stake in Old Dominion Freight Line in the fourth quarter worth about $28,000. Westside Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares during the period. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Old Dominion Freight Line in the first quarter worth about $39,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.