Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $206.00 at TD Cowen

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by TD Cowen from $209.00 to $206.00 in a research note published on Friday, Marketbeat reports. TD Cowen currently has a hold rating on the transportation company’s stock.

Other research analysts have also recently issued reports about the company. Susquehanna raised their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a research note on Thursday, February 8th. Evercore ISI reduced their price objective on Old Dominion Freight Line from $241.00 to $225.00 and set an outperform rating on the stock in a research note on Thursday. Stifel Nicolaus increased their target price on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a report on Wednesday, January 10th. The Goldman Sachs Group increased their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a report on Thursday, February 8th. Finally, Barclays dropped their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an equal weight rating for the company in a report on Thursday. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Stock Down 7.2 %

ODFL opened at $182.42 on Friday. The stock has a market cap of $39.71 billion, a PE ratio of 32.12, a P/E/G ratio of 3.07 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. Old Dominion Freight Line has a 52 week low of $147.90 and a 52 week high of $227.80. The business’s fifty day simple moving average is $220.06 and its 200 day simple moving average is $206.41.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business 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%. As a group, research analysts expect that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders 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 yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insiders Place Their Bets

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

Institutional Trading of Old Dominion Freight Line

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its holdings in shares of Old Dominion Freight Line by 0.4% during the third quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock valued at $9,528,000 after purchasing an additional 92 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Old Dominion Freight Line by 14.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock valued at $7,371,000 after purchasing an additional 2,335 shares during the last quarter. Czech National Bank lifted its holdings in shares of Old Dominion Freight Line by 47.1% during the third quarter. Czech National Bank now owns 15,662 shares of the transportation company’s stock valued at $6,408,000 after purchasing an additional 5,017 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Old Dominion Freight Line during the third quarter valued at approximately $783,000. Finally, Pittenger & Anderson Inc. lifted its holdings in shares of Old Dominion Freight Line by 617.3% during the third quarter. Pittenger & Anderson Inc. now owns 6,327 shares of the transportation company’s stock valued at $2,589,000 after purchasing an additional 5,445 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.