Old Dominion Freight Line (NASDAQ:ODFL) Shares Gap Down to $219.28

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) shares gapped down prior to trading on Wednesday . The stock had previously closed at $219.28, but opened at $208.00. Old Dominion Freight Line shares last traded at $210.17, with a volume of 480,949 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ODFL shares. Bank of America restated a “neutral” rating and issued a $223.00 price objective (up from $221.50) on shares of Old Dominion Freight Line in a report on Wednesday, March 6th. The Goldman Sachs Group boosted their price objective on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. lowered their price objective on shares of 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. Susquehanna boosted their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a research report on Thursday, February 8th. Finally, Raymond James boosted their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $214.19.

Old Dominion Freight Line Stock Down 10.2 %

The stock’s 50-day moving average price is $221.45 and its two-hundred day moving average price is $206.76. The stock has a market capitalization of $42.88 billion, a PE ratio of 34.81, a P/E/G ratio of 3.04 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, January 31st. The transportation company reported $1.47 earnings per share 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 for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the firm earned $1.46 EPS. The company’s revenue was up .3% compared to the same quarter last year. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 6.35 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.47%.

Insider Activity at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the 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 of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its stake in shares of Old Dominion Freight Line by 0.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock worth $9,528,000 after purchasing an additional 92 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Old Dominion Freight Line by 14.9% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock worth $7,371,000 after acquiring an additional 2,335 shares in the last quarter. Czech National Bank increased its holdings in Old Dominion Freight Line by 47.1% in the 3rd quarter. Czech National Bank now owns 15,662 shares of the transportation company’s stock worth $6,408,000 after acquiring an additional 5,017 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $783,000. Finally, Pittenger & Anderson Inc. increased its holdings in Old Dominion Freight Line by 617.3% in the 3rd quarter. Pittenger & Anderson Inc. now owns 6,327 shares of the transportation company’s stock worth $2,589,000 after acquiring an additional 5,445 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

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.