Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $231.00

Old Dominion Freight Line (NASDAQ:ODFL - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $233.00 to $231.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the transportation company's stock.

Several other analysts have also issued reports on ODFL. Stifel Nicolaus upped their price target on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Raymond James dropped their price target on shares of Old Dominion Freight Line from $212.50 to $207.50 and set an outperform rating on the stock in a research report on Monday, December 11th. Bank of America reissued a neutral rating and issued a $223.00 price objective (up from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. Susquehanna increased their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a research report on Thursday, February 8th. Finally, Barclays dropped their price objective on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating on the stock in a research report on Thursday, April 4th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of Hold and a consensus target price of $212.59.

Old Dominion Freight Line Stock Down 1.0 %

ODFL traded down $2.17 during trading hours on Tuesday, hitting $222.52. 886,133 shares of the company's stock were exchanged, compared to its average volume of 1,331,547. Old Dominion Freight Line has a 1-year low of $147.90 and a 1-year high of $227.80. The stock's 50-day moving average is $219.68 and its two-hundred day moving average is $205.66. The stock has a market cap of $48.44 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 3.21 and a beta of 1.02. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, January 31st. The transportation company reported $1.47 EPS 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 business 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 posted $1.46 earnings per share. The firm's revenue was up .3% on a year-over-year basis. Sell-side analysts predict that Old Dominion Freight Line will post 6.38 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The business also recently declared 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 of this dividend was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. Old Dominion Freight Line's payout ratio is currently 18.47%.

Insider Activity

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ODFL. Norges Bank bought a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $495,387,000. International Assets Investment Management LLC raised its holdings in Old Dominion Freight Line by 39,016.7% during the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company's stock worth $285,869,000 after purchasing an additional 703,471 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Old Dominion Freight Line by 117.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 761,387 shares of the transportation company's stock worth $195,129,000 after purchasing an additional 411,516 shares during the last quarter. Barclays PLC raised its holdings in Old Dominion Freight Line by 118.5% during the 4th quarter. Barclays PLC now owns 546,680 shares of the transportation company's stock worth $221,584,000 after purchasing an additional 296,476 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Old Dominion Freight Line by 39,577.3% during the 1st quarter. Renaissance Technologies LLC now owns 277,741 shares of the transportation company's stock worth $82,956,000 after purchasing an additional 277,041 shares during the last quarter. 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.