Old Dominion Freight Line (NASDAQ:ODFL - Free Report) had its price objective decreased by Wells Fargo & Company from $160.00 to $145.00 in a research note issued to investors on Thursday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the transportation company's stock.
A number of other research analysts also recently weighed in on ODFL. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research report on Wednesday, April 2nd. Raymond James Financial cut their price target on shares of Old Dominion Freight Line from $180.00 to $165.00 and set an "outperform" rating for the company in a research note on Thursday. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and increased their price target for the company from $190.00 to $200.00 in a research note on Monday, June 2nd. Stifel Nicolaus cut their price target on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Susquehanna cut their price target on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating for the company in a research note on Wednesday, June 18th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $168.38.
Read Our Latest Stock Analysis on ODFL
Old Dominion Freight Line Stock Down 5.0%
Old Dominion Freight Line stock traded down $7.40 during mid-day trading on Thursday, reaching $141.85. The company's stock had a trading volume of 2,653,868 shares, compared to its average volume of 1,744,677. The company has a market capitalization of $29.98 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 3.41 and a beta of 1.25. Old Dominion Freight Line has a 12 month low of $141.73 and a 12 month high of $233.26. The business's 50 day simple moving average is $162.22 and its 200 day simple moving average is $168.73. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.32 and a current ratio of 1.38.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its earnings results on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing analysts' consensus estimates of $1.29 by ($0.02). The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. Old Dominion Freight Line had a net margin of 19.42% and a return on equity of 25.94%. The firm's revenue for the quarter was down 6.1% on a year-over-year basis. During the same period last year, the business posted $1.48 EPS. As a group, research analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current year.
Old Dominion Freight Line Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 3rd. Old Dominion Freight Line's dividend payout ratio (DPR) is currently 21.88%.
Hedge Funds Weigh In On Old Dominion Freight Line
Hedge funds have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its position in Old Dominion Freight Line by 2.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,267,640 shares of the transportation company's stock worth $223,281,000 after acquiring an additional 35,778 shares during the period. GAMMA Investing LLC increased its position in Old Dominion Freight Line by 48.7% during the first quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company's stock worth $514,000 after acquiring an additional 1,018 shares during the period. World Investment Advisors bought a new position in Old Dominion Freight Line during the fourth quarter worth about $360,000. Wealth Enhancement Advisory Services LLC increased its position in Old Dominion Freight Line by 9.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,595 shares of the transportation company's stock worth $2,911,000 after acquiring an additional 1,529 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in Old Dominion Freight Line by 93.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,396 shares of the transportation company's stock worth $2,716,000 after acquiring an additional 7,439 shares during the period. 77.82% of the stock is owned by institutional investors.
About Old Dominion Freight Line
(
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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.
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