Old Dominion Freight Line (NASDAQ:ODFL) Given New $225.00 Price Target at Evercore ISI

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by Evercore ISI from $241.00 to $225.00 in a report published on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the transportation company’s stock.

Several other research analysts also recently commented on the company. The Goldman Sachs Group raised their target price 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. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating on the stock in a report on Tuesday, April 9th. Barclays decreased their price target on Old Dominion Freight Line to $210.00 and set an equal weight rating on the stock in a research note on Thursday, April 4th. Stifel Nicolaus lifted their price objective on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Finally, Susquehanna lifted their price target on 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. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $210.97.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $12.62 during mid-day trading on Thursday, hitting $184.04. 1,856,662 shares of the company’s stock traded hands, compared to its average volume of 1,395,590. Old Dominion Freight Line has a fifty-two week low of $147.90 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. The stock has a market cap of $40.06 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 2.80 and a beta of 1.02. The firm has a 50 day simple moving average of $220.65 and a two-hundred day simple moving average of $206.61.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS 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 the consensus estimate of $1.47 billion. On average, research analysts expect that Old Dominion Freight Line will post 6.35 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The business also recently announced 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. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insider Transactions at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of Old Dominion Freight Line stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value 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 document filed with the SEC, which is available at the SEC website. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in ODFL. Meridian Wealth Management LLC boosted its stake in shares of Old Dominion Freight Line by 118.4% during the 3rd quarter. Meridian Wealth Management LLC now owns 1,284 shares of the transportation company’s stock worth $525,000 after acquiring an additional 696 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Old Dominion Freight Line by 106.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,584 shares of the transportation company’s stock worth $1,057,000 after acquiring an additional 1,335 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $673,000. CX Institutional purchased a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $389,000. Finally, UMB Bank n.a. lifted its stake in Old Dominion Freight Line by 15.8% in the 3rd quarter. UMB Bank n.a. now owns 242 shares of the transportation company’s stock valued at $99,000 after buying an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.