Old Dominion Freight Line (NASDAQ:ODFL) Given New $205.00 Price Target at Bank of America

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by Bank of America from $223.00 to $205.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

ODFL has been the subject of a number of other research reports. UBS Group increased their target price on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a neutral rating in a research report on Thursday. 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. Raymond James increased their target price on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an outperform rating in a research report on Monday, April 15th. 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 report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $210.97.

Old Dominion Freight Line Trading Down 5.7 %

Shares of ODFL stock traded down $11.12 during trading hours on Thursday, hitting $185.54. 1,557,677 shares of the company were exchanged, compared to its average volume of 1,390,616. The firm has a market cap of $40.39 billion, a PE ratio of 32.32, a PEG ratio of 2.80 and a beta of 1.02. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $220.65 and a 200 day moving average of $206.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Analysts expect 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.56%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its stake in Old Dominion Freight Line by 0.4% in the third quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock valued at $9,528,000 after buying an additional 92 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Old Dominion Freight Line by 14.9% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock valued at $7,371,000 after buying an additional 2,335 shares during the last quarter. Czech National Bank lifted its stake in Old Dominion Freight Line by 47.1% in the third quarter. Czech National Bank now owns 15,662 shares of the transportation company’s stock valued at $6,408,000 after buying an additional 5,017 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Old Dominion Freight Line in the third quarter valued at $783,000. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Old Dominion Freight Line by 617.3% during the third quarter. Pittenger & Anderson Inc. now owns 6,327 shares of the transportation company’s stock valued at $2,589,000 after purchasing an additional 5,445 shares during the period. 77.82% of the stock is currently owned by institutional investors.

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.