Old Dominion Freight Line (NASDAQ:ODFL) Given New $205.00 Price Target at UBS Group

Old Dominion Freight Line (NASDAQ:ODFL) had its price target increased by UBS Group from $202.00 to $205.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other equities analysts have also issued reports on ODFL. The Goldman Sachs Group upped their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a report on Thursday, February 8th. Bank of America restated a neutral rating and set a $223.00 target price (up previously from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. Susquehanna increased their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. lowered their price objective on Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating on the stock in a research report on Tuesday, April 9th. Finally, Barclays lowered their price target 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. Eleven investment 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 an average rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Stock Down 6.1 %

ODFL stock traded down $11.99 during trading on Thursday, reaching $184.67. 1,966,665 shares of the stock were exchanged, compared to its average volume of 1,397,037. The firm’s 50 day moving average is $220.65 and its 200 day moving average is $206.61. Old Dominion Freight Line has a twelve month low of $147.90 and a twelve month high of $227.80. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The firm has a market cap of $40.20 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 2.80 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, research analysts forecast that Old Dominion Freight Line will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Insider Activity at Old Dominion Freight Line

In other 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 transaction of $3,524,819.80. Following the completion of the transaction, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors and hedge funds have recently modified their holdings of ODFL. Fortitude Family Office LLC bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $27,000. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line in the fourth quarter worth about $27,000. Farmers & Merchants Investments Inc. boosted its position in 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 purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line during the 4th quarter valued at about $29,000. Finally, Headinvest LLC purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter valued at about $30,000. 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.