Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $233.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target boosted by Raymond James from $207.50 to $233.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Several other research firms also recently issued reports on ODFL. 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. 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. Barclays cut their price objective on Old Dominion Freight Line to $210.00 and set an equal weight rating on the stock in a report on Thursday, April 4th. Susquehanna upped their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a report on Thursday, February 8th. Finally, Bank of America restated a neutral rating and set a $223.00 price target (up previously from $221.50) on shares of Old Dominion Freight Line in a report on Wednesday, March 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $214.19.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $219.95 on Monday. Old Dominion Freight Line has a 52 week low of $147.90 and a 52 week high of $227.80. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $221.63 and its two-hundred day moving average is $206.30. The company has a market capitalization of $47.88 billion, a P/E ratio of 39.07, a P/E/G ratio of 3.17 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.04. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.46 EPS. Equities analysts expect that Old Dominion Freight Line will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line’s payout ratio is currently 18.47%.

Insider Activity at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Large investors have recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $29,000. Headinvest LLC acquired a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at about $30,000. Finally, Sound Income Strategies LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $34,000. 77.82% of the stock is owned by institutional investors and hedge funds.

About Old Dominion Freight Line

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.