Old Dominion Freight Line (NASDAQ:ODFL) Price Target Increased to $205.00 by Analysts at UBS Group

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lifted by UBS Group from $202.00 to $205.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other equities research analysts have also recently commented on the stock. Bank of America reissued a neutral rating and set a $223.00 price target (up from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. Raymond James raised their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an outperform rating in a research note on Monday, April 15th. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. decreased their target price on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating for the company in a research note on Tuesday, April 9th. Finally, Barclays dropped their price target on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating on the stock in a research report on Thursday, April 4th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Price Performance

ODFL stock opened at $182.42 on Thursday. The stock has a 50-day moving average price of $220.06 and a two-hundred day moving average price of $206.32. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80. The stock has a market cap of $39.71 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (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 analyst estimates of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Equities analysts forecast that Old Dominion Freight Line will post 6.16 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

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

Insiders Place Their Bets

In other news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 13,540 shares in the company, valued at approximately $2,993,355.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Old Dominion Freight Line by 1.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after acquiring an additional 81,122 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after buying an additional 2,888,205 shares during the period. JPMorgan Chase & Co. increased its position in Old Dominion Freight Line by 11.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after acquiring an additional 251,289 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of Old Dominion Freight Line by 0.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after acquiring an additional 12,016 shares during the last quarter. Finally, WCM Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 95.9% during the first quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock valued at $435,593,000 after acquiring an additional 972,531 shares during the last quarter. 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.