Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $235.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective upped by The Goldman Sachs Group from $213.00 to $235.00 in a report released on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the transportation company’s stock.

ODFL has been the topic of a number of other research reports. BMO Capital Markets lowered their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Barclays boosted their price target on shares of Old Dominion Freight Line from $190.00 to $220.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 13th. Finally, Bank of America reduced their price target on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $204.00.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $200.69 on Thursday. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $42.85 billion, a PE ratio of 35.09, a P/E/G ratio of 4.29 and a beta of 1.00. The stock has a 50-day moving average price of $209.13 and a two-hundred day moving average price of $196.09.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The business’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business posted $1.54 EPS. Analysts expect that Old Dominion Freight Line will post 5.43 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 annualized dividend and a yield of 0.52%. Old Dominion Freight Line’s payout ratio is 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ODFL. Benjamin Edwards Inc. bought a new position in Old Dominion Freight Line during the second quarter valued at approximately $25,000. LRI Investments LLC grew its position in Old Dominion Freight Line by 73.1% in the second quarter. LRI Investments LLC now owns 187 shares of the transportation company’s stock worth $33,000 after acquiring an additional 79 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Old Dominion Freight Line in the third quarter worth $45,000. Cullen Frost Bankers Inc. boosted its stake in shares of Old Dominion Freight Line by 472.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 189 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Old Dominion Freight Line by 398.1% in the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.