Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Target Lowered at JPMorgan Chase & Co.

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective trimmed by JPMorgan Chase & Co. from $232.00 to $216.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other research analysts also recently issued reports on the company. Raymond James Financial reissued an “outperform” rating and issued a $210.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday. Barclays set a $200.00 price target on Old Dominion Freight Line and gave the company an “equal weight” rating in a research note on Thursday. Zacks Research downgraded shares of Old Dominion Freight Line from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $231.00 to $223.00 in a research note on Tuesday, September 8th. Finally, Sanford C. Bernstein started coverage on shares of Old Dominion Freight Line in a research note on Thursday, September 10th. They set a “market perform” rating and a $200.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $217.30.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $172.56 on Friday. Old Dominion Freight Line has a fifty-two week low of $126.01 and a fifty-two week high of $252.03. The company has a 50 day simple moving average of $183.55 and a two-hundred day simple moving average of $201.46. The company has a market capitalization of $35.78 billion, a PE ratio of 31.04, a P/E/G ratio of 2.82 and a beta of 1.14.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.04. Old Dominion Freight Line had a net margin of 20.08% and a return on equity of 25.92%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. During the same period in the prior year, the firm posted $1.28 EPS. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Research analysts predict that Old Dominion Freight Line will post 5.93 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Shareholders of record on Wednesday, December 2nd will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $1.16 annualized dividend and a yield of 0.7%. Old Dominion Freight Line’s payout ratio is currently 20.86%.

Insiders Place Their Bets

In other news, SVP Cecil Overbey, Jr. sold 19,952 shares of the stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the transaction, the senior vice president directly owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This represents a 46.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.20% of the stock is currently owned by insiders.

Institutional Trading of Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in the company. Bell Investment Advisors Inc bought a new position in shares of Old Dominion Freight Line during the 2nd quarter worth $25,000. Solstein Capital LLC bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Old Dominion Freight Line by 80.5% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. EFG International AG purchased a new stake in Old Dominion Freight Line during the second quarter valued at about $29,000. Finally, Transamerica Financial Advisors LLC purchased a new stake in Old Dominion Freight Line during the second quarter valued at about $30,000. 77.82% of the stock is currently owned by institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line, Inc is a transportation company specializing in less-than-truckload (LTL) freight services. It transports shipments that do not require a full truck, serving business customers across a range of industries with regional, interregional and national freight transportation.

The company’s services include pickup and delivery, expedited transportation, container drayage and supply-chain solutions. Old Dominion also provides shipment tracking and other technology-enabled tools designed to support freight visibility and customer logistics management.

Founded in 1934 by Earl Congdon, Old Dominion Freight Line is headquartered in Thomasville, North Carolina.