Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Stock Has Consensus Price Target of $217.22 According to Analysts

Key Points

• Analyst sentiment is broadly neutral: 26 brokerages give Old Dominion Freight Line a consensus “Hold” rating, with 15 holds, 10 buys, and one sell. Their average 12-month price target is $217.22.
• Quarterly results topped estimates: ODFL reported EPS of $1.65 versus $1.61 expected and revenue of $1.59 billion versus $1.57 billion expected; revenue rose 13.1% year over year.
• The stock opened at $168.02, below its 50-day and 200-day moving averages. The company announced a quarterly dividend of $0.29 per share, equal to a 0.7% annualized yield.

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) has been given an average rating of "Hold" by the twenty-six brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $217.22.

A number of research analysts have weighed in on ODFL shares. Raymond James Financial reiterated an "outperform" rating and set a $210.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, October 29th. Susquehanna lowered their target price on shares of Old Dominion Freight Line from $202.00 to $200.00 and set a "neutral" rating for the company in a report on Friday, November 6th. Jefferies Financial Group reaffirmed a "hold" rating and set a $190.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, October 29th. Weiss Ratings downgraded shares of Old Dominion Freight Line from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, August 25th. Finally, Barclays set a $200.00 price target on shares of Old Dominion Freight Line and gave the company an "equal weight" rating in a report on Thursday, October 29th.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $168.02 on Wednesday. The firm has a market capitalization of $34.62 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 2.79 and a beta of 1.14. The business has a 50 day simple moving average of $179.62 and a 200-day simple moving average of $201.37. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, October 28th. The transportation company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.04. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. Old Dominion Freight Line had a return on equity of 25.92% and a net margin of 20.08%. The company's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. As a group, analysts expect that Old Dominion Freight Line will post 5.93 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.7%. Old Dominion Freight Line's dividend payout ratio is currently 20.86%.

Insider Buying and Selling

In other Old Dominion Freight Line news, SVP Cecil Overbey, Jr. sold 19,952 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the sale, the senior vice president owned 22,746 shares in the company, valued at $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Private Advisor Group LLC increased its position in shares of Old Dominion Freight Line by 30.2% during the third quarter. Private Advisor Group LLC now owns 5,735 shares of the transportation company's stock worth $997,000 after acquiring an additional 1,331 shares during the period. Focus Advisor Solutions LLC grew its stake in Old Dominion Freight Line by 47.6% in the third quarter. Focus Advisor Solutions LLC now owns 4,999 shares of the transportation company's stock worth $874,000 after purchasing an additional 1,611 shares in the last quarter. OneAscent Financial Services LLC grew its stake in Old Dominion Freight Line by 41.5% in the third quarter. OneAscent Financial Services LLC now owns 2,326 shares of the transportation company's stock worth $404,000 after purchasing an additional 682 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Old Dominion Freight Line by 950.0% in the third quarter. Meeder Asset Management Inc. now owns 861 shares of the transportation company's stock worth $150,000 after purchasing an additional 779 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in Old Dominion Freight Line by 140.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 70,095 shares of the transportation company's stock worth $12,826,000 after purchasing an additional 40,947 shares during the period. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a transportation and logistics company specializing in less-than-truckload (LTL) shipping. It combines freight from multiple customers in its network to transport shipments that do not require an entire truck, and provides pickup and delivery services for businesses. Founded in 1934 by Earl and Lillian Congdon, the company began with a single truck serving routes between Virginia and North Carolina. It has since expanded its service-center network across the United States, offering regional and national freight transportation.

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