Old Dominion Freight Line (NASDAQ:ODFL) Given New $206.00 Price Target at TD Cowen

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by TD Cowen from $209.00 to $206.00 in a report published on Friday, Marketbeat.com reports. They currently have a hold rating on the transportation company’s stock.

Several other research analysts also recently commented on the company. Susquehanna lifted their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a research report on Thursday, February 8th. UBS Group boosted their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a neutral rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Bank of America lowered their price target on Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating on the stock in a research report on Thursday. Finally, Barclays lowered their price target on Old Dominion Freight Line from $210.00 to $205.00 and set an equal weight rating on the stock in a research report on Thursday. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Old Dominion Freight Line presently has an average rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Stock Down 7.2 %

Shares of Old Dominion Freight Line stock opened at $182.42 on Friday. The firm has a market cap of $39.71 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 3.07 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. Old Dominion Freight Line has a 52-week low of $147.90 and a 52-week high of $227.80. The stock has a 50-day simple moving average of $220.06 and a 200-day simple moving average of $206.41.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. On average, equities research analysts expect that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Insiders Place Their Bets

In related news, Director John D. Kasarda sold 15,944 shares of the 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 directly owns 13,540 shares in the company, valued at $2,993,355.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in Old Dominion Freight Line by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after purchasing an additional 81,122 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Old Dominion Freight Line by 94.6% during the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock valued at $1,302,786,000 after purchasing an additional 2,888,205 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after purchasing an additional 251,289 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in Old Dominion Freight Line by 0.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after purchasing an additional 12,016 shares during the last quarter. Finally, WCM Investment Management LLC boosted its position in Old Dominion Freight Line by 95.9% during the first quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock valued at $435,593,000 after purchasing an additional 972,531 shares during the last quarter. 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.