Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $219.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by JPMorgan Chase & Co. from $231.00 to $219.00 in a research report released on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

ODFL has been the subject of a number of other research reports. UBS Group raised their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a neutral rating in a research report on Thursday. Stifel Nicolaus boosted their price objective on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a buy rating in a report on Wednesday, January 10th. Bank of America decreased their price objective on Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating for the company in a report on Thursday. Raymond James boosted their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an outperform rating in a report on Monday, April 15th. Finally, 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 report on Thursday, February 8th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $210.97.

Old Dominion Freight Line Trading Down 5.7 %

Shares of NASDAQ ODFL traded down $11.12 during midday trading on Thursday, hitting $185.54. The company’s stock had a trading volume of 1,557,677 shares, compared to its average volume of 1,390,616. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $220.65 and its two-hundred day moving average is $206.61. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80. The firm has a market cap of $40.39 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 2.80 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $1.47 billion. As a group, equities research analysts expect that Old Dominion Freight Line will post 6.35 EPS 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the business’s 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 approximately $2,993,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake 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 worth $1,302,786,000 after acquiring an additional 2,888,205 shares during the period. Norges Bank acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $495,387,000. WCM Investment Management LLC raised its stake 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 worth $435,593,000 after acquiring an additional 972,531 shares during the period. International Assets Investment Management LLC raised its stake in Old Dominion Freight Line by 39,016.7% during the fourth quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after acquiring an additional 703,471 shares during the period. Finally, Canal Capital Management LLC raised its stake in Old Dominion Freight Line by 100.8% during the first quarter. Canal Capital Management LLC now owns 565,496 shares of the transportation company’s stock worth $124,019,000 after acquiring an additional 283,884 shares during the period. 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.