Raymond James Increases Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $233.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price boosted by Raymond James from $207.50 to $233.00 in a research report released on Monday morning, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

A number of other research firms also recently weighed in on ODFL. Barclays dropped their target price on Old Dominion Freight Line to $210.00 and set an equal weight rating for the company in a report on Thursday, April 4th. Stifel Nicolaus lifted their target price on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Susquehanna lifted their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a report on Thursday, February 8th. JPMorgan Chase & Co. dropped their target price on Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating for the company in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group lifted their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $214.19.

Old Dominion Freight Line Trading Down 1.4 %

ODFL stock opened at $207.82 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The company has a fifty day moving average price of $221.48 and a two-hundred day moving average price of $206.45. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80. The stock has a market cap of $45.24 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 3.17 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.04. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts anticipate that Old Dominion Freight Line will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s payout ratio is 18.47%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the transaction, the director now owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Several hedge funds and other institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC grew its holdings in shares of Old Dominion Freight Line by 126.9% during the first quarter. SeaCrest Wealth Management LLC now owns 3,775 shares of the transportation company’s stock worth $828,000 after purchasing an additional 2,111 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Old Dominion Freight Line by 121.5% in the first quarter. Wasatch Advisors LP now owns 6,506 shares of the transportation company’s stock valued at $1,427,000 after acquiring an additional 3,569 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Old Dominion Freight Line by 100.0% in the first quarter. State of Michigan Retirement System now owns 77,388 shares of the transportation company’s stock valued at $16,972,000 after acquiring an additional 38,694 shares during the last quarter. MV Capital Management Inc. boosted its holdings in Old Dominion Freight Line by 100.0% in the first quarter. MV Capital Management Inc. now owns 156 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 78 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its holdings in Old Dominion Freight Line by 100.5% in the first quarter. Capital Advisors Ltd. LLC now owns 796 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 399 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

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.