JPMorgan Chase & Co. Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $143.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by JPMorgan Chase & Co. from $155.00 to $143.00 in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have a neutral rating on the transportation company’s stock.

A number of other research analysts have also recently commented on the stock. Benchmark reissued a “hold” rating and issued a $102.00 target price on shares of Old Dominion Freight Line in a report on Thursday, June 12th. Robert W. Baird set a $148.00 target price on shares of Old Dominion Freight Line and gave the company a “neutral” rating in a research report on Monday, August 4th. TD Cowen decreased their target price on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research note on Thursday, July 31st. Stifel Nicolaus dropped their price target on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, July 31st. Finally, Citigroup reduced their price objective on Old Dominion Freight Line from $174.00 to $173.00 and set a “buy” rating on the stock in a research report on Wednesday, September 10th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $164.09.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $134.31 on Wednesday. Old Dominion Freight Line has a 12-month low of $133.69 and a 12-month high of $233.26. The company’s 50 day moving average price is $146.39 and its two-hundred day moving average price is $155.81. The firm has a market cap of $28.23 billion, a PE ratio of 26.23, a PEG ratio of 3.31 and a beta of 1.19. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the previous year, the business posted $1.48 EPS. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 21.88%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC increased its stake in Old Dominion Freight Line by 5.3% during the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares in the last quarter. Merit Financial Group LLC grew its holdings in shares of Old Dominion Freight Line by 23.9% during the first quarter. Merit Financial Group LLC now owns 1,928 shares of the transportation company’s stock valued at $319,000 after buying an additional 372 shares during the last quarter. UMB Bank n.a. increased its position in shares of Old Dominion Freight Line by 20.8% during the first quarter. UMB Bank n.a. now owns 888 shares of the transportation company’s stock worth $147,000 after acquiring an additional 153 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Old Dominion Freight Line by 48.7% in the 1st quarter. GAMMA Investing LLC now owns 3,109 shares of the transportation company’s stock worth $514,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 16.1% in the 1st quarter. Simon Quick Advisors LLC now owns 1,766 shares of the transportation company’s stock worth $292,000 after acquiring an additional 245 shares during the last quarter. 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.