Evercore ISI Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $225.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by Evercore ISI from $241.00 to $225.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the transportation company’s stock.

A number of other brokerages have also commented on ODFL. Bank of America reaffirmed a neutral rating and set a $223.00 target price (up from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. Raymond James raised 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. The Goldman Sachs Group increased their price objective on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a research note on Thursday, February 8th. 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 note on Wednesday, January 10th. Finally, 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 note on Thursday, February 8th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of Hold and an average target price of $210.97.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $182.42 on Thursday. The firm has a market cap of $39.71 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.02. The firm’s 50 day simple moving average is $220.06 and its 200-day simple moving average is $206.32. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates 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%. As a group, equities analysts predict that Old Dominion Freight Line will post 6.16 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders 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 yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line 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 completion of the sale, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Old Dominion Freight Line by 1.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after buying an additional 81,122 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Old Dominion Freight Line by 94.6% in the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Old Dominion Freight Line by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after buying an additional 251,289 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Old Dominion Freight Line by 0.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock worth $851,971,000 after buying an additional 12,016 shares during the last quarter. Finally, WCM Investment Management LLC raised its holdings in shares of Old Dominion Freight Line by 95.9% in the first quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock worth $435,593,000 after buying an additional 972,531 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.