Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $209.00 at TD Cowen

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by TD Cowen from $214.00 to $209.00 in a research report report published on Friday morning, MarketBeat.com reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on ODFL. Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating on the stock in a research note on Wednesday, June 12th. Stephens restated an overweight rating and issued a $214.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday. Benchmark reaffirmed a hold rating on shares of Old Dominion Freight Line in a report on Thursday. Morgan Stanley reduced their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an equal weight rating for the company in a report on Monday, July 8th. Finally, Robert W. Baird upped their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an outperform rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $201.00.

Old Dominion Freight Line Stock Down 0.7 %

ODFL stock opened at $184.82 on Friday. The company has a market cap of $40.16 billion, a price-to-earnings ratio of 32.54, a price-to-earnings-growth ratio of 3.76 and a beta of 1.00. The company has a fifty day moving average price of $194.08 and a 200 day moving average price of $197.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.56%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by insiders.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Old Dominion Freight Line by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after acquiring an additional 27 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Old Dominion Freight Line by 1.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after buying an additional 30 shares during the period. Partners Capital Investment Group LLP lifted its position in Old Dominion Freight Line by 6.1% during the fourth quarter. Partners Capital Investment Group LLP now owns 697 shares of the transportation company’s stock valued at $283,000 after buying an additional 40 shares in the last quarter. Gulf International Bank UK Ltd grew its stake in Old Dominion Freight Line by 0.6% during the first quarter. Gulf International Bank UK Ltd now owns 8,474 shares of the transportation company’s stock worth $1,858,000 after buying an additional 47 shares during the period. Finally, STF Management LP increased its position in shares of Old Dominion Freight Line by 2.7% in the fourth quarter. STF Management LP now owns 1,850 shares of the transportation company’s stock worth $750,000 after acquiring an additional 49 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.