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

Old Dominion Freight Line (NASDAQ:ODFL) had its price target cut by Evercore ISI from $241.00 to $225.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Several other research firms have also recently issued reports on ODFL. Bank of America reiterated a neutral rating and set a $223.00 target price (up previously from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. Barclays lowered their price target on Old Dominion Freight Line to $210.00 and set an equal weight rating on the stock in a report on Thursday, April 4th. Susquehanna upped their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a report on Thursday, February 8th. Stifel Nicolaus upped their price target on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Finally, The Goldman Sachs Group upped their price target on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $182.42 on Thursday. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $220.06 and its two-hundred day moving average is $206.37. Old Dominion Freight Line has a 12-month low of $147.90 and a 12-month high of $227.80. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 2.85 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Research analysts expect that Old Dominion Freight Line will post 6.16 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Insiders Place Their Bets

In related news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the transaction, the director now directly owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Pinnacle Associates Ltd. raised its position in shares of Old Dominion Freight Line by 1.6% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,632 shares of the transportation company’s stock worth $668,000 after buying an additional 26 shares during the period. Jones Financial Companies Lllp raised its position in shares of Old Dominion Freight Line by 22.5% in the 4th quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after buying an additional 27 shares during the period. Lido Advisors LLC raised its position in shares of Old Dominion Freight Line by 3.1% in the 3rd quarter. Lido Advisors LLC now owns 969 shares of the transportation company’s stock worth $397,000 after buying an additional 29 shares during the period. Cary Street Partners Investment Advisory LLC raised its position in shares of Old Dominion Freight Line by 14.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 235 shares of the transportation company’s stock worth $96,000 after buying an additional 30 shares during the period. Finally, Avantax Advisory Services Inc. raised its position in Old Dominion Freight Line by 1.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock valued at $1,096,000 after purchasing an additional 30 shares during the period. 77.82% of the stock is owned by hedge funds and other 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.