Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $219.00 at JPMorgan Chase & Co.

Old Dominion Freight Line (NASDAQ:ODFL) had its target price trimmed by JPMorgan Chase & Co. from $231.00 to $219.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

A number of other brokerages have also commented on ODFL. Barclays decreased their price objective on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating on the stock in a report on Thursday, April 4th. Stifel Nicolaus upped their target price on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Evercore ISI cut their target price on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating on the stock in a research report on Thursday. Susquehanna upped their target price on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a research report on Thursday, February 8th. Finally, The Goldman Sachs Group upped their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a research report on Thursday, February 8th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of Hold and an average target price of $210.97.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock traded down $11.12 on Thursday, hitting $185.54. The company’s stock had a trading volume of 1,557,677 shares, compared to its average volume of 1,390,616. The firm has a market cap of $40.39 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 2.80 and a beta of 1.02. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average price of $220.65 and a 200-day moving average price of $206.61. 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 quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, equities analysts anticipate that Old Dominion Freight Line will post 6.35 earnings per share 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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s dividend 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 the firm’s stock in a transaction on 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 sale, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Fortitude Family Office LLC acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $27,000. Trust Co. of Vermont bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $27,000. Farmers & Merchants Investments Inc. lifted its position in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the period. Raleigh Capital Management Inc. bought a new stake in Old Dominion Freight Line during the fourth quarter worth about $29,000. Finally, Headinvest LLC bought a new stake in Old Dominion Freight Line during the third quarter worth about $30,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.