Old Dominion Freight Line (NASDAQ:ODFL) Shares Gap Down to $219.28

Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report)'s share price gapped down prior to trading on Wednesday . The stock had previously closed at $219.28, but opened at $208.00. Old Dominion Freight Line shares last traded at $210.17, with a volume of 480,949 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ODFL. JPMorgan Chase & Co. lowered their target price on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a "neutral" rating for the company in a report on Tuesday, April 9th. Susquehanna increased their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a "positive" rating in a report on Thursday, February 8th. Barclays dropped their price objective on Old Dominion Freight Line to $210.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 4th. Raymond James upped their price objective 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. Finally, Bank of America restated a "neutral" rating and set a $223.00 price objective (up from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Old Dominion Freight Line has a consensus rating of "Hold" and a consensus target price of $214.19.

Old Dominion Freight Line Trading Down 11.0 %

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 has a fifty day moving average of $221.04 and a 200-day moving average of $206.68. The stock has a market capitalization of $42.46 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 3.04 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced 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 firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the company posted $1.46 EPS. On average, equities analysts anticipate that Old Dominion Freight Line, Inc. will post 6.35 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Old Dominion Freight Line's payout ratio is 18.47%.

Insider Transactions at Old Dominion Freight Line

In other 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 legal filing with the SEC, which is available at this link. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fortitude Family Office LLC acquired a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $27,000. Trust Co. of Vermont acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $27,000. Farmers & Merchants Investments Inc. raised its stake in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company's stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $29,000. Finally, Headinvest LLC bought a new stake in shares of Old Dominion Freight Line during the third quarter valued at approximately $30,000. 77.82% of the stock is owned by institutional investors and hedge funds.

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.