Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Target Price at $212.69

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been given an average recommendation of “Hold” by the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $212.59.

ODFL has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Susquehanna raised their target price on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research note on Thursday, February 8th. Barclays cut their price target on Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a report on Thursday, April 4th. Bank of America reaffirmed a “neutral” rating and set a $223.00 price target (up previously from $221.50) on shares of Old Dominion Freight Line in a report on Wednesday, March 6th. Finally, Stifel Nicolaus raised their price target on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a report on Wednesday, January 10th.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $219.79 on Friday. Old Dominion Freight Line has a 1-year low of $147.90 and a 1-year high of $227.80. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a fifty day simple moving average of $221.04 and a 200 day simple moving average of $205.97. The stock has a market capitalization of $47.84 billion, a PE ratio of 39.04, a P/E/G ratio of 3.09 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, January 31st. The transportation company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.04. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the business earned $1.46 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, research analysts expect that Old Dominion Freight Line will post 6.35 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.47%.

Insider Activity at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the completion of the transaction, the director now owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 10.40% of the stock is owned by insiders.

Institutional Trading of Old Dominion Freight Line

Several hedge funds and other institutional investors have recently made changes to their positions in ODFL. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Old Dominion Freight Line by 4,027.8% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,486 shares of the transportation company’s stock worth $444,000 after purchasing an additional 1,450 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of Old Dominion Freight Line by 2.8% during the first quarter. Cibc World Market Inc. now owns 1,846 shares of the transportation company’s stock worth $551,000 after purchasing an additional 50 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Old Dominion Freight Line by 5.5% during the first quarter. Sei Investments Co. now owns 54,600 shares of the transportation company’s stock worth $16,294,000 after purchasing an additional 2,854 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Old Dominion Freight Line by 29.8% during the first quarter. Allianz Asset Management GmbH now owns 26,717 shares of the transportation company’s stock worth $7,979,000 after purchasing an additional 6,133 shares during the last quarter. Finally, Prudential PLC bought a new stake in shares of Old Dominion Freight Line during the first quarter worth about $758,000. 77.82% of the stock is currently owned by institutional investors.

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.