Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $205.00 by Analysts at BMO Capital Markets

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective cut by BMO Capital Markets from $210.00 to $205.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a market perform rating on the transportation company’s stock.

A number of other brokerages also recently weighed in on ODFL. JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. Citigroup initiated coverage on Old Dominion Freight Line in a report on Wednesday, October 9th. They set a “neutral” rating and a $206.00 target price for the company. Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Finally, Evercore ISI dropped their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating on the stock in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $196.39.

Old Dominion Freight Line Stock Up 1.8 %

ODFL traded up $3.45 on Thursday, reaching $195.26. The company’s stock had a trading volume of 185,938 shares, compared to its average volume of 1,544,703. The stock has a market cap of $42.43 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The business’s 50 day moving average is $195.58 and its 200 day moving average is $190.85. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.54 earnings per share. As a group, research analysts forecast that Old Dominion Freight Line will post 5.56 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio is currently 17.82%.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Vanguard Group Inc. raised its holdings in shares of Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after buying an additional 7,401,526 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Old Dominion Freight Line by 59.0% in the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares in the last quarter. Capital World Investors lifted its position in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock valued at $535,943,000 after acquiring an additional 1,228,116 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Old Dominion Freight Line by 283.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,103,558 shares of the transportation company’s stock worth $242,021,000 after acquiring an additional 815,817 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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.