Raymond James Raises Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $233.00

Old Dominion Freight Line (NASDAQ:ODFL - Free Report) had its price target increased by Raymond James from $207.50 to $233.00 in a research report released on Monday morning, Benzinga reports. They currently have an outperform rating on the transportation company's stock.

ODFL has been the topic of several other research reports. Susquehanna boosted their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a research note on Thursday, February 8th. The Goldman Sachs Group raised their price target on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Stifel Nicolaus increased their price objective on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Barclays dropped their target price on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating for the company in a research report on Thursday, April 4th. Finally, Bank of America restated a neutral rating and issued a $223.00 target price (up previously from $221.50) on shares of Old Dominion Freight Line in a research note on Wednesday, March 6th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of Hold and a consensus price target of $214.19.

Old Dominion Freight Line Trading Down 0.5 %

ODFL stock traded down $1.18 during trading on Monday, reaching $219.95. 1,102,422 shares of the stock traded hands, compared to its average volume of 1,320,703. The firm has a market capitalization of $47.88 billion, a PE ratio of 38.95, a P/E/G ratio of 3.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. The business's 50 day moving average price is $221.38 and its 200-day moving average price is $206.18. Old Dominion Freight Line has a 52-week low of $147.90 and a 52-week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.04. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.46 earnings per share. As a group, sell-side analysts forecast that Old Dominion Freight Line will post 6.35 earnings per share for the current year.

Old Dominion Freight Line Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors 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 yield of 0.47%. Old Dominion Freight Line's dividend payout ratio is presently 18.47%.

Insider Buying and Selling at Old Dominion Freight Line

In related news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the completion of the transaction, the director now directly 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 accessible through this link. 10.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Old Dominion Freight Line during the 4th quarter valued at $495,387,000. International Assets Investment Management LLC boosted its stake in Old Dominion Freight Line by 39,016.7% during the fourth quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company's stock valued at $285,869,000 after buying an additional 703,471 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Old Dominion Freight Line by 117.6% during the second quarter. Goldman Sachs Group Inc. now owns 761,387 shares of the transportation company's stock worth $195,129,000 after acquiring an additional 411,516 shares during the period. Barclays PLC raised its position in Old Dominion Freight Line by 118.5% in the fourth quarter. Barclays PLC now owns 546,680 shares of the transportation company's stock worth $221,584,000 after acquiring an additional 296,476 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Old Dominion Freight Line by 39,577.3% in the 1st quarter. Renaissance Technologies LLC now owns 277,741 shares of the transportation company's stock valued at $82,956,000 after acquiring an additional 277,041 shares during the last quarter. Institutional investors and hedge funds 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.