The Goldman Sachs Group Trims Old Dominion Freight Line (NASDAQ:ODFL) Target Price to $216.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by The Goldman Sachs Group from $228.00 to $216.00 in a report released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the transportation company’s stock.

Several other research analysts also recently commented on the stock. Robert W. Baird raised their price objective on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Evercore ISI cut their price target on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an in-line rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company cut their price target on shares of Old Dominion Freight Line from $175.00 to $170.00 and set an underweight rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. cut their price target on shares of Old Dominion Freight Line from $193.00 to $189.00 and set a neutral rating for the company in a report on Friday, September 6th. Finally, Stephens reissued an overweight rating and issued a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of Hold and a consensus price target of $200.83.

Old Dominion Freight Line Stock Up 2.6 %

ODFL opened at $199.58 on Wednesday. The company has a 50 day moving average of $194.85 and a 200 day moving average of $193.58. The company has a market cap of $43.37 billion, a PE ratio of 35.14, a price-to-earnings-growth ratio of 4.06 and a beta of 0.99. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80. 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 released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. Old Dominion Freight Line’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. On average, sell-side analysts expect that Old Dominion Freight Line will post 5.6 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

Insider Activity

In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction on Monday, August 26th. The shares were sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at $282,146,307.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line 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 completion of the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently added to or reduced their stakes in ODFL. Benjamin Edwards Inc. purchased a new position in Old Dominion Freight Line in the 2nd quarter worth $25,000. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Farmers & Merchants Investments Inc. increased its position in shares of 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 valued at $27,000 after acquiring an additional 62 shares during the period. Atwood & Palmer Inc. increased its position in shares of Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line in the fourth quarter valued at about $29,000. 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.