Susquehanna Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $202.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by Susquehanna from $232.00 to $202.00 in a report released on Friday, MarketBeat reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

A number of other analysts have also recently commented on the stock. Barclays upped their target price on shares of Old Dominion Freight Line from $210.00 to $220.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Argus lifted their price target on shares of Old Dominion Freight Line from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Truist Financial boosted their price objective on shares of Old Dominion Freight Line from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 15th. Wall Street Zen cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Sunday, September 20th. Finally, UBS Group reiterated a “neutral” rating and set a $228.00 target price (up from $224.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $226.35.

Old Dominion Freight Line Price Performance

ODFL opened at $180.48 on Friday. The stock has a market capitalization of $37.42 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 3.02 and a beta of 1.20. The firm has a 50 day moving average price of $195.64 and a 200-day moving average price of $207.99. Old Dominion Freight Line has a twelve month low of $126.01 and a twelve month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, analysts expect that Old Dominion Freight Line will post 5.79 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio is presently 22.35%.

Insider Buying and Selling

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total value of $3,958,277.28. Following the transaction, the senior vice president directly owned 22,746 shares in the company, valued at $4,512,578.94. The trade was a 46.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds have recently made changes to their positions in the business. Compass Financial Management LLC purchased a new stake in Old Dominion Freight Line in the 2nd quarter worth $2,158,000. Nykredit A S purchased a new position in shares of Old Dominion Freight Line during the second quarter valued at about $16,333,000. Park National Corp OH purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at about $1,056,000. Erste Asset Management GmbH increased its holdings in shares of Old Dominion Freight Line by 275.9% in the fourth quarter. Erste Asset Management GmbH now owns 61,040 shares of the transportation company’s stock worth $9,573,000 after purchasing an additional 44,800 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Old Dominion Freight Line by 14.7% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock worth $241,367,000 after purchasing an additional 142,809 shares during the last quarter. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation and logistics company that specializes in regional, inter-regional and national less-than-truckload (LTL) services. The company transports shipments that do not require an entire truck, serving commercial, industrial and retail customers across the United States.

Its services include standard and expedited LTL transportation, freight brokerage, supply chain consulting, container drayage and warehousing. Old Dominion supports customers through a network of service centers, terminals and distribution facilities, providing pickup, line-haul and delivery capabilities for a broad range of freight.

Founded in 1934 by Earl Congdon, the company is headquartered in Thomasville, North Carolina.