Evercore ISI Has Lowered Expectations for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its target price decreased by Evercore ISI from $155.00 to $143.00 in a research note released on Tuesday morning, MarketBeat reports. Evercore ISI currently has an in-line rating on the transportation company’s stock.

A number of other research firms also recently issued reports on ODFL. Stephens reduced their price target on shares of Old Dominion Freight Line from $186.00 to $174.00 and set an “overweight” rating on the stock in a research note on Thursday, July 31st. Wells Fargo & Company reduced their price target on shares of Old Dominion Freight Line from $160.00 to $145.00 and set an “underweight” rating on the stock in a research note on Thursday, July 31st. Raymond James Financial reduced their price target on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an “outperform” rating on the stock in a research note on Thursday, July 31st. UBS Group reduced their price target on shares of Old Dominion Freight Line from $158.00 to $155.00 and set a “neutral” rating on the stock in a research note on Thursday, July 31st. Finally, Barclays set a $155.00 price target on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research note on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $166.10.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $140.60 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s 50-day moving average is $148.10 and its two-hundred day moving average is $156.79. Old Dominion Freight Line has a 12 month low of $133.69 and a 12 month high of $233.26. The company has a market capitalization of $29.55 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 3.23 and a beta of 1.19.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the firm earned $1.48 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 6.1% on a year-over-year basis. Analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a $0.28 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Old Dominion Freight Line’s payout ratio is 21.88%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ODFL. Larson Financial Group LLC grew its holdings in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 108 shares in the last quarter. Financial Gravity Companies Inc. acquired a new position in Old Dominion Freight Line during the 2nd quarter worth approximately $26,000. Rossby Financial LCC acquired a new position in Old Dominion Freight Line during the 2nd quarter worth approximately $28,000. American National Bank & Trust acquired a new position in Old Dominion Freight Line during the 1st quarter worth approximately $30,000. Finally, Wayfinding Financial LLC acquired a new position in Old Dominion Freight Line during the 1st quarter worth approximately $39,000. Institutional investors and hedge funds 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.