Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $205.00

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

Several other analysts have also recently issued reports on ODFL. Susquehanna upped their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a research note on Thursday, February 8th. UBS Group increased their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a neutral rating in a research note on Thursday. Barclays dropped their price target on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating for the company in a research note on Thursday, April 4th. Evercore ISI dropped their price target on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group increased their price target on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of Hold and a consensus target price of $210.97.

Old Dominion Freight Line Stock Down 7.2 %

Shares of NASDAQ ODFL opened at $182.42 on Thursday. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80. The stock has a market cap of $39.71 billion, a PE ratio of 32.12, a P/E/G ratio of 2.85 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $220.06 and a 200 day moving average of $206.37.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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. As a group, sell-side analysts predict that Old Dominion Freight Line will post 6.16 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The business 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 annualized dividend and a dividend yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insider Transactions at Old Dominion Freight Line

In other news, Director John D. Kasarda sold 15,944 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total value of $3,524,819.80. Following the transaction, the director now directly owns 13,540 shares in the company, valued at approximately $2,993,355.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds have recently added to or reduced their stakes in ODFL. Fortitude Family Office LLC purchased a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. boosted its position in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the period. Raleigh Capital Management Inc. purchased a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $29,000. Finally, Headinvest LLC purchased a new position in Old Dominion Freight Line in the 3rd quarter valued at approximately $30,000. 77.82% of the stock is currently 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.