Jefferies Financial Group Issues Positive Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its target price raised by Jefferies Financial Group from $185.00 to $190.00 in a report released on Friday morning,Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on ODFL. BMO Capital Markets dropped their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Citigroup raised their target price on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lowered their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a research report on Tuesday. Stephens reiterated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $176.41 on Friday. The firm has a fifty day simple moving average of $203.37 and a two-hundred day simple moving average of $197.24. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a market capitalization of $37.66 billion, a PE ratio of 30.84, a P/E/G ratio of 4.21 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the company earned $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a $0.26 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio is currently 18.18%.

Insider Activity at Old Dominion Freight Line

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

Institutional Investors Weigh In On Old Dominion Freight Line

Several institutional investors and hedge funds have recently made changes to their positions in the company. SevenBridge Financial Group LLC boosted its stake in Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 50 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after buying an additional 55 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in Old Dominion Freight Line by 3.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock worth $301,000 after buying an additional 56 shares in the last quarter. Brighton Jones LLC lifted its stake in Old Dominion Freight Line by 5.0% during the 3rd quarter. Brighton Jones LLC now owns 1,480 shares of the transportation company’s stock valued at $294,000 after acquiring an additional 71 shares during the period. Finally, CVA Family Office LLC boosted its holdings in shares of Old Dominion Freight Line by 23.5% during the 3rd quarter. CVA Family Office LLC now owns 394 shares of the transportation company’s stock valued at $78,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

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.