Evercore ISI Lowers Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $225.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by Evercore ISI from $241.00 to $225.00 in a research report report published on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the transportation company’s stock.

Several other research firms have also commented on ODFL. Raymond James lifted their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an outperform rating in a research report on Monday, April 15th. The Goldman Sachs Group upped their price target on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Barclays dropped their price target on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating for the company in a research note on Thursday, April 4th. Susquehanna lifted their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $210.97.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL traded down $12.62 during midday trading on Thursday, hitting $184.04. 1,856,662 shares of the stock traded hands, compared to its average volume of 1,395,590. The firm has a 50-day moving average of $220.65 and a two-hundred day moving average of $206.61. The firm has a market capitalization of $40.06 billion, a P/E ratio of 32.32, a PEG ratio of 2.80 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.29. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, equities analysts forecast that Old Dominion Freight Line will post 6.35 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

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

Insider Buying and Selling at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of Old Dominion Freight Line stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the transaction, the director now owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Institutional investors have recently made changes to their positions in the company. Pinnacle Associates Ltd. increased its holdings in Old Dominion Freight Line by 1.6% in the third quarter. Pinnacle Associates Ltd. now owns 1,632 shares of the transportation company’s stock valued at $668,000 after buying an additional 26 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Old Dominion Freight Line by 22.5% during the fourth 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 last quarter. Lido Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 3.1% during the third 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 last quarter. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Old Dominion Freight Line by 14.6% during the third 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 last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in shares of Old Dominion Freight Line by 1.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock worth $1,096,000 after buying an additional 30 shares during the last quarter. 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.