Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price increased by UBS Group from $202.00 to $205.00 in a research note published on Thursday morning, Benzinga reports. UBS Group currently has a neutral rating on the transportation company’s stock.

ODFL has been the subject of a number of other reports. Barclays dropped their target price on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating for the company in a report on Thursday, April 4th. Bank of America reiterated a neutral rating and issued a $223.00 price objective (up from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. The Goldman Sachs Group raised their price target on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Evercore ISI reduced their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $210.97.

Old Dominion Freight Line Trading Down 7.2 %

Shares of ODFL stock opened at $182.42 on Thursday. The business has a 50-day moving average of $220.06 and a 200 day moving average of $206.32. 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 1-year low of $147.90 and a 1-year high of $227.80. The stock has a market capitalization of $39.71 billion, a PE ratio of 32.12, a P/E/G ratio of 2.85 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. As a group, sell-side analysts anticipate that Old Dominion Freight Line will post 6.16 earnings per share for the current year.

Old Dominion Freight Line Cuts Dividend

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

Insider Buying and Selling at Old Dominion Freight Line

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 shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the sale, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors have recently bought and sold shares of ODFL. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at $27,000. Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line during the fourth quarter worth about $29,000. Headinvest LLC purchased a new position in Old Dominion Freight Line during the third quarter worth $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Old Dominion Freight Line during the 4th quarter worth about $34,000. 77.82% of the stock is owned by hedge funds and other 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.