Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $196.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price cut by TD Cowen from $203.00 to $196.00 in a report published on Thursday morning, Benzinga reports. They currently have a hold rating on the transportation company’s stock.

Several other analysts have also issued reports on ODFL. Raymond James upped their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Robert W. Baird cut their price target on Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday. Benchmark reiterated a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Citigroup started coverage on shares of Old Dominion Freight Line in a research note on Wednesday, October 9th. They set a “neutral” rating and a $206.00 target price for the company. Finally, Susquehanna decreased their price target on shares of Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average target price of $196.39.

Old Dominion Freight Line Price Performance

NASDAQ:ODFL opened at $197.79 on Thursday. The stock has a market capitalization of $42.98 billion, a PE ratio of 34.82, a P/E/G ratio of 4.20 and a beta of 0.99. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $227.80. The firm has a fifty day simple moving average of $195.53 and a 200 day simple moving average of $190.26. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The company’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.54 EPS. On average, research analysts expect that Old Dominion Freight Line will post 5.56 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Buying and Selling

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman David S. Congdon sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Institutional Trading of Old Dominion Freight Line

Institutional investors have recently modified their holdings of the business. Farmers & Merchants Investments Inc. grew its position in shares of Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares during the last quarter. Washington Trust Advisors Inc. boosted its holdings in Old Dominion Freight Line by 138.3% in the first quarter. Washington Trust Advisors Inc. now owns 143 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 83 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Old Dominion Freight Line by 206.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 144 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 97 shares during the period. Benjamin Edwards Inc. bought a new position in Old Dominion Freight Line during the 2nd quarter worth approximately $25,000. Finally, Atwood & Palmer Inc. lifted its position in shares of Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the period. 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.