Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $190.00 at Jefferies Financial Group

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

Other research analysts also recently issued reports about the company. Evercore ISI lowered their price objective on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Robert W. Baird cut their price objective on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Citigroup upped their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company cut their price objective on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Old Dominion Freight Line has an average 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 stock’s 50 day moving average price is $202.88 and its 200 day moving average price is $197.55. The firm has a market capitalization of $37.66 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 4.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data 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 company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned $1.54 EPS. Old Dominion Freight Line’s revenue for the quarter was down 3.0% compared to the same quarter last year. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Insiders Place Their Bets

In other news, Director Greg C. Gantt sold 7,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was 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 owns 97,890 shares in the company, valued at approximately $19,584,852.30. This represents a 6.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the company’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 sale, the director now owns 7,383 shares of the company’s stock, valued at approximately $1,664,423.52. This trade represents a 28.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of hedge funds have recently modified their holdings of the stock. Benjamin Edwards Inc. acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter valued at $25,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the third quarter worth about $45,000. Brown Brothers Harriman & Co. lifted its holdings in Old Dominion Freight Line by 398.1% during the third quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares in the last quarter. Quarry LP bought a new position in Old Dominion Freight Line during the second quarter worth about $60,000. Finally, Versant Capital Management Inc lifted its holdings in Old Dominion Freight Line by 45.5% during the fourth quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after acquiring an additional 110 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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.