Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $225.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by Susquehanna from $210.00 to $225.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a positive rating on the transportation company’s stock.

ODFL has been the subject of a number of other reports. Bank of America lowered their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a neutral rating for the company in a research report on Friday, September 6th. Barclays reduced their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating for the company in a research note on Wednesday, June 12th. Evercore ISI reissued an in-line rating and set a $196.00 price target (down from $225.00) on shares of Old Dominion Freight Line in a research report on Tuesday, June 25th. TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a hold rating for the company in a research report on Friday, September 6th. Finally, Benchmark reiterated a hold rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of Hold and an average price target of $201.83.

Old Dominion Freight Line Price Performance

ODFL stock opened at $193.97 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The company’s 50-day moving average is $196.27 and its 200-day moving average is $195.80. The stock has a market capitalization of $42.15 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 3.92 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.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities research analysts expect that Old Dominion Freight Line will post 5.64 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated 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 completion of the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman David S. Congdon sold 10,000 shares of the business’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 completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the business. Trust Co. of Vermont bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $29,000. Neo Ivy Capital Management purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $40,000. Farmers & Merchants Investments Inc. boosted its stake in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its position in Old Dominion Freight Line by 103.0% during the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 68 shares in 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.