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

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lifted by Barclays from $190.00 to $220.00 in a research note released on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the transportation company’s stock.

Several other research analysts have also issued reports on the stock. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. 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 for the company in a report on Thursday, October 24th. Benchmark reissued a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Thursday, October 24th. Finally, Raymond James upped their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $200.00.

Old Dominion Freight Line Trading Down 3.5 %

ODFL opened at $215.57 on Wednesday. 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 firm has a 50-day moving average price of $201.32 and a two-hundred day moving average price of $191.30. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $233.26. The stock has a market capitalization of $46.02 billion, a PE ratio of 37.69, a PEG ratio of 4.51 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.42 by $0.01. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the firm earned $1.54 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts anticipate that Old Dominion Freight Line will post 5.43 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.48%. Old Dominion Freight Line’s payout ratio is presently 18.18%.

Insider Activity at Old Dominion Freight Line

In other news, 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 value of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares in the company, valued at $1,664,423.52. This trade represents a 28.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,975 shares of company stock valued at $10,062,478. 9.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ODFL. Vanguard Group Inc. grew its holdings in Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. State Street Corp boosted its holdings in shares of Old Dominion Freight Line by 3.8% during the 3rd quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after buying an additional 279,946 shares during the period. Capital Research Global Investors grew its stake in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Old Dominion Freight Line by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after acquiring an additional 270,538 shares during the period. 77.82% of the stock is currently owned by institutional investors.

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.