Old Dominion Freight Line (NASDAQ:ODFL) Reaches New 52-Week High at $226.27

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report)'s share price reached a new 52-week high on Monday . The company traded as high as $226.27 and last traded at $225.84, with a volume of 37282 shares. The stock had previously closed at $224.57.

Analysts Set New Price Targets

ODFL has been the topic of a number of research reports. Susquehanna boosted their target price on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a "positive" rating in a report on Thursday, February 8th. Raymond James reduced their target price on shares of Old Dominion Freight Line from $212.50 to $207.50 and set an "outperform" rating on the stock in a report on Monday, December 11th. Bank of America restated a "neutral" rating and issued a $223.00 target price (up from $221.50) on shares of Old Dominion Freight Line in a report on Wednesday, March 6th. JPMorgan Chase & Co. initiated coverage on shares of Old Dominion Freight Line in a report on Monday, March 11th. They set a "neutral" rating and a $232.50 price target on the stock. Finally, The Goldman Sachs Group upped 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 report on Thursday, February 8th. Nine analysts have rated the stock with a hold rating and six have issued 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 an average target price of $212.69.

Old Dominion Freight Line Price Performance

The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $48.91 billion, a P/E ratio of 39.91, a P/E/G ratio of 3.21 and a beta of 1.02. The stock's 50 day simple moving average is $219.68 and its 200 day simple moving average is $205.66.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.04. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The firm had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The company's revenue was up .3% compared to the same quarter last year. As a group, analysts expect that Old Dominion Freight Line, Inc. will post 6.38 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given 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 0.46%. Old Dominion Freight Line's payout ratio is presently 18.47%.

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 completion of the sale, the director now owns 13,540 shares of the company's stock, valued at approximately $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds have recently modified their holdings of the business. Heartland Bank & Trust Co lifted its position in Old Dominion Freight Line by 1.5% during the third quarter. Heartland Bank & Trust Co now owns 1,655 shares of the transportation company's stock valued at $677,000 after acquiring an additional 24 shares during the last quarter. Northwest Investment Counselors LLC lifted its position in Old Dominion Freight Line by 17.4% during the third quarter. Northwest Investment Counselors LLC now owns 169 shares of the transportation company's stock valued at $69,000 after acquiring an additional 25 shares during the last quarter. Pinnacle Associates Ltd. lifted its position in Old Dominion Freight Line by 1.6% during the third quarter. Pinnacle Associates Ltd. now owns 1,632 shares of the transportation company's stock valued at $668,000 after acquiring an additional 26 shares during the last quarter. Harbour Investments Inc. lifted its position in Old Dominion Freight Line by 20.2% during the third quarter. Harbour Investments Inc. now owns 155 shares of the transportation company's stock valued at $63,000 after acquiring an additional 26 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its position in Old Dominion Freight Line by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company's stock valued at $60,000 after acquiring an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company's stock.

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.