The Goldman Sachs Group Issues Positive Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

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

Several other equities analysts have also recently issued reports on ODFL. BMO Capital Markets decreased 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 research note on Thursday, October 24th. Stifel Nicolaus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $209.00 to $197.00 in a research note on Monday, October 21st. Citigroup upped their price target on 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. Stephens reissued an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, December 4th. Finally, Argus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $204.00.

Old Dominion Freight Line Price Performance

Shares of ODFL opened at $200.69 on Thursday. The company has a 50 day moving average of $209.13 and a two-hundred day moving average of $196.09. 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 cap of $42.85 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 4.29 and a beta of 1.00. 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 (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the company earned $1.54 earnings per share. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. As a group, analysts predict 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 given a $0.26 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.52%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Leo H. Suggs sold 3,000 shares of the firm’s stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were 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 directly owns 97,890 shares in the company, valued at approximately $19,584,852.30. The trade was a 6.67 % decrease in their position. 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 hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in Old Dominion Freight Line by 6.9% during the second quarter. Assenagon Asset Management S.A. now owns 6,763 shares of the transportation company’s stock valued at $1,194,000 after acquiring an additional 435 shares during the period. Triad Wealth Partners LLC acquired a new position in shares of Old Dominion Freight Line during the second quarter worth approximately $80,000. Blue Trust Inc. raised its position in shares of Old Dominion Freight Line by 360.9% during the 2nd quarter. Blue Trust Inc. now owns 1,014 shares of the transportation company’s stock worth $179,000 after buying an additional 794 shares in the last quarter. Calton & Associates Inc. bought a new position in Old Dominion Freight Line during the second quarter valued at about $203,000. Finally, Marshall Financial Group LLC boosted its holdings in Old Dominion Freight Line by 519.1% during the second quarter. Marshall Financial Group LLC now owns 9,020 shares of the transportation company’s stock worth $1,593,000 after buying an additional 7,563 shares in the last quarter. Institutional investors and hedge funds 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.