Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $188.00 at Evercore ISI

Old Dominion Freight Line (NASDAQ:ODFL) had its target price decreased by Evercore ISI from $199.00 to $188.00 in a research note issued to investors on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the transportation company’s stock.

Several other research firms have also commented on ODFL. Bank of America dropped their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a neutral rating on the stock in a report on Friday, September 6th. Robert W. Baird raised their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the company an outperform rating in a report on Thursday, July 25th. Benchmark reissued a hold rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Wells Fargo & Company dropped their price objective on Old Dominion Freight Line from $175.00 to $170.00 and set an underweight rating on the stock in a report on Thursday, September 5th. Finally, Barclays dropped their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating on the stock in a report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $201.39.

Old Dominion Freight Line Stock Up 0.5 %

Old Dominion Freight Line stock opened at $191.86 on Thursday. The firm has a market cap of $41.69 billion, a price-to-earnings ratio of 33.78, a price-to-earnings-growth ratio of 4.08 and a beta of 0.99. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $227.80. The business’s 50-day moving average price is $195.77 and its 200 day moving average price is $194.42. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period last year, the company earned $1.33 earnings per share. As a group, sell-side analysts anticipate that Old Dominion Freight Line will post 5.62 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.54%. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the transaction, the chairman now owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $195.17, for a total value of $1,951,700.00. Following the transaction, the chairman now owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its stake in Old Dominion Freight Line by 1.3% during the third quarter. Handelsbanken Fonder AB now owns 105,772 shares of the transportation company’s stock worth $21,011,000 after acquiring an additional 1,380 shares during the last quarter. SG Americas Securities LLC increased its stake in Old Dominion Freight Line by 249.4% during the third quarter. SG Americas Securities LLC now owns 79,814 shares of the transportation company’s stock worth $15,854,000 after acquiring an additional 56,972 shares during the last quarter. Czech National Bank increased its stake in Old Dominion Freight Line by 13.1% during the third quarter. Czech National Bank now owns 38,416 shares of the transportation company’s stock worth $7,631,000 after acquiring an additional 4,463 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in Old Dominion Freight Line by 71.5% during the third quarter. Central Pacific Bank Trust Division now owns 3,679 shares of the transportation company’s stock worth $731,000 after acquiring an additional 1,534 shares during the last quarter. Finally, Centaurus Financial Inc. increased its stake in Old Dominion Freight Line by 36.1% during the second quarter. Centaurus Financial Inc. now owns 3,669 shares of the transportation company’s stock worth $648,000 after acquiring an additional 973 shares during the last quarter. Hedge funds and other institutional investors 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.