Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $190.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price decreased by Raymond James from $215.00 to $190.00 in a report issued on Monday morning, Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

A number of other brokerages have also issued reports on ODFL. Barclays dropped their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating on the stock in a research note on Wednesday, June 12th. Baird R W raised Old Dominion Freight Line from a hold rating to a strong-buy rating in a report on Wednesday, May 8th. Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a report on Friday, June 7th. They set an underweight rating and a $175.00 price objective on the stock. Robert W. Baird upgraded shares of Old Dominion Freight Line from a neutral rating to an outperform rating and set a $205.00 target price on the stock in a research report on Wednesday, May 8th. Finally, Vertical Research upgraded shares of Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 price target for the company in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line has an average rating of Hold and a consensus price target of $201.18.

Old Dominion Freight Line Stock Up 0.7 %

Old Dominion Freight Line stock opened at $176.04 on Monday. The stock has a 50 day moving average of $180.50 and a two-hundred day moving average of $200.29. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80. The stock has a market capitalization of $38.25 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 2.28 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results 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 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 expect that Old Dominion Freight Line will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were given a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ODFL. Fortitude Family Office LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new position in Old Dominion Freight Line in the 4th quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth $29,000. Headinvest LLC purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter worth $30,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $34,000. Institutional investors and hedge funds 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.