Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $219.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by JPMorgan Chase & Co. from $231.00 to $219.00 in a research note released on Thursday, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

ODFL has been the topic of several other reports. Stifel Nicolaus increased their target price on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Raymond James lifted their target price on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an outperform rating in a research report on Monday, April 15th. Evercore ISI reduced their price target on Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating on the stock in a report on Thursday. Barclays reduced their price target on Old Dominion Freight Line to $210.00 and set an equal weight rating on the stock in a report on Thursday, April 4th. Finally, Bank of America cut their price objective on Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating on the stock in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $210.97.

Old Dominion Freight Line Stock Down 7.2 %

ODFL stock opened at $182.42 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 2.85 and a beta of 1.02. The business’s fifty day moving average price is $220.06 and its two-hundred day moving average price is $206.37. Old Dominion Freight Line has a fifty-two week low of $147.90 and a fifty-two week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, equities analysts anticipate that Old Dominion Freight Line will post 6.16 earnings per share for the current year.

Old Dominion Freight Line Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 annualized dividend and a yield of 0.57%. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Buying and Selling

In related news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 10.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of large investors have recently made changes to their positions in the business. Sib LLC grew its position in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Sib LLC now owns 165,172 shares of the transportation company’s stock worth $36,224,000 after buying an additional 82,586 shares during the last quarter. Conning Inc. purchased a new position in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $241,000. K.J. Harrison & Partners Inc lifted its stake in shares of Old Dominion Freight Line by 103.2% in the 1st quarter. K.J. Harrison & Partners Inc now owns 3,658 shares of the transportation company’s stock valued at $802,000 after purchasing an additional 1,858 shares during the period. Pinnacle Associates Ltd. lifted its stake in shares of Old Dominion Freight Line by 100.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,190 shares of the transportation company’s stock valued at $700,000 after purchasing an additional 1,598 shares during the period. Finally, Trueblood Wealth Management LLC purchased a new position in shares of Old Dominion Freight Line in the 1st quarter valued at approximately $210,000. 77.82% of the stock is currently owned by institutional investors.

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.