Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $216.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price reduced by The Goldman Sachs Group from $228.00 to $216.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

ODFL has been the subject of a number of other reports. Susquehanna lifted their price target on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a positive rating in a research note on Wednesday, September 18th. Robert W. Baird boosted their target price on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the company an outperform rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a neutral rating for the company in a research report on Friday, September 6th. Bank of America cut their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a neutral rating for the company in a research report on Friday, September 6th. Finally, Citigroup initiated coverage on shares of Old Dominion Freight Line in a research report on Wednesday. They set a neutral rating and a $206.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $200.83.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $199.58 on Wednesday. The company has a 50 day moving average price of $194.85 and a 200-day moving average price of $193.42. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $227.80. The firm has a market capitalization of $43.37 billion, a PE ratio of 35.14, a P/E/G ratio of 4.06 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping 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 firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business posted $1.33 earnings per share. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that Old Dominion Freight Line will post 5.6 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Transactions at Old Dominion Freight Line

In other news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the business’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 completion of the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds have recently bought and sold shares of ODFL. Vanguard Group Inc. raised its stake in Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares in the last quarter. Capital Research Global Investors raised its stake in Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares in the last quarter. Capital World Investors raised its stake in Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after purchasing an additional 1,228,116 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Old Dominion Freight Line by 283.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock valued at $242,021,000 after purchasing an additional 815,817 shares in 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.