Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $218.00 at Susquehanna

Old Dominion Freight Line (NASDAQ:ODFL) had its target price cut by Susquehanna from $225.00 to $218.00 in a research note released on Thursday morning, Benzinga reports. They currently have a positive rating on the transportation company’s stock.

A number of other research firms have also recently issued reports on ODFL. Stephens restated an “overweight” rating and set a $214.00 price target on shares of Old Dominion Freight Line in a report on Thursday, September 5th. The Goldman Sachs Group reduced their price target on shares of Old Dominion Freight Line from $228.00 to $216.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a report on Friday, September 6th. Citigroup initiated coverage on Old Dominion Freight Line in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $206.00 target price for the company. Finally, Raymond James upped their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $196.39.

Old Dominion Freight Line Trading Up 3.1 %

ODFL opened at $197.79 on Thursday. The stock has a market cap of $42.98 billion, a PE ratio of 33.90, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a fifty day moving average of $195.53 and a 200-day moving average of $190.44.

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

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio is currently 17.82%.

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ODFL. Wealth Enhancement Advisory Services LLC lifted its stake in Old Dominion Freight Line by 132.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 61,499 shares of the transportation company’s stock valued at $13,487,000 after purchasing an additional 35,096 shares during the last quarter. Transform Wealth LLC grew its stake in shares of Old Dominion Freight Line by 100.2% during the 1st quarter. Transform Wealth LLC now owns 3,420 shares of the transportation company’s stock worth $750,000 after acquiring an additional 1,712 shares during the period. AMF Tjanstepension AB grew its stake in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. AMF Tjanstepension AB now owns 41,532 shares of the transportation company’s stock worth $9,110,000 after acquiring an additional 20,766 shares during the period. OneAscent Wealth Management LLC increased its holdings in Old Dominion Freight Line by 97.3% in the 1st quarter. OneAscent Wealth Management LLC now owns 2,245 shares of the transportation company’s stock worth $492,000 after acquiring an additional 1,107 shares during the last quarter. Finally, OneAscent Financial Services LLC lifted its holdings in Old Dominion Freight Line by 120.5% during the first quarter. OneAscent Financial Services LLC now owns 3,813 shares of the transportation company’s stock valued at $836,000 after purchasing an additional 2,084 shares during the last quarter. 77.82% of the stock is owned by institutional investors.

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.