UBS Group Raises Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by UBS Group from $202.00 to $205.00 in a research report report published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other research analysts have also issued reports on ODFL. Barclays cut their target price on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating on the stock in a research note on Thursday, April 4th. Stifel Nicolaus increased their target price on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. The Goldman Sachs Group raised their price objective 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. Evercore ISI dropped their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating on the stock in a research note on Thursday. Finally, Raymond James raised their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an outperform rating in a research note on Monday, April 15th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Old Dominion Freight Line has an average rating of Hold and a consensus price target of $210.97.

Old Dominion Freight Line Stock Down 7.2 %

Shares of NASDAQ ODFL opened at $182.42 on Thursday. The firm 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. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80. The company’s fifty day simple moving average is $220.06 and its 200 day simple moving average is $206.37. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. As a group, sell-side analysts forecast that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The company also recently announced 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 Activity

In other news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction dated 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 completion of the sale, the director now owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently made changes to their positions in the company. Sib LLC increased its holdings in Old Dominion Freight Line by 100.0% during the first 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 stake in Old Dominion Freight Line during the first quarter worth about $241,000. K.J. Harrison & Partners Inc increased its holdings in Old Dominion Freight Line by 103.2% during the first quarter. K.J. Harrison & Partners Inc now owns 3,658 shares of the transportation company’s stock worth $802,000 after buying an additional 1,858 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in Old Dominion Freight Line by 100.4% during the first quarter. Pinnacle Associates Ltd. now owns 3,190 shares of the transportation company’s stock worth $700,000 after buying an additional 1,598 shares during the last quarter. Finally, Trueblood Wealth Management LLC purchased a new stake in Old Dominion Freight Line during the first quarter worth about $210,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.