Old Dominion Freight Line (NASDAQ:ODFL) Given New $205.00 Price Target at Bank of America

Old Dominion Freight Line (NASDAQ:ODFL) had its price target trimmed by Bank of America from $223.00 to $205.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also recently issued reports on ODFL. JPMorgan Chase & Co. decreased their price target 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. Raymond James upped 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. Stifel Nicolaus increased their price target on shares of 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. The Goldman Sachs Group increased their price target on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Finally, Susquehanna upped their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a research note on Thursday, February 8th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of Hold and an average target price of $210.97.

Old Dominion Freight Line Stock Down 5.7 %

NASDAQ:ODFL traded down $11.12 during trading hours on Thursday, reaching $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 market cap of $40.39 billion, a price-to-earnings ratio of 32.32, a price-to-earnings-growth ratio of 2.80 and a beta of 1.02. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80. The business’s 50-day moving average is $220.65 and its 200-day moving average is $206.61. 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 (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Equities research analysts predict that Old Dominion Freight Line will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s payout ratio is presently 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 Old Dominion Freight Line stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the transaction, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Old Dominion Freight Line by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after purchasing an additional 81,122 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Old Dominion Freight Line by 94.6% in 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 purchasing an additional 2,888,205 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after buying an additional 251,289 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of Old Dominion Freight Line by 0.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after buying an additional 12,016 shares during the last quarter. Finally, WCM Investment Management LLC grew its position in Old Dominion Freight Line by 95.9% during the 1st 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 last quarter. Hedge funds and other 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.