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

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

Several other equities analysts have also recently weighed in on the company. Stifel Nicolaus lifted their price objective on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a buy rating in a report on Wednesday, January 10th. Bank of America cut their price objective on Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating on the stock in a report on Thursday. Evercore ISI cut their target price 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. Susquehanna boosted their target price 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. Finally, The Goldman Sachs Group boosted their target price on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of Hold and a consensus target price of $210.97.

Old Dominion Freight Line Trading Down 7.2 %

NASDAQ:ODFL opened at $182.42 on Thursday. Old Dominion Freight Line has a fifty-two week low of $147.90 and a fifty-two week high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. The stock has a market capitalization 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 business’s 50-day simple moving average is $220.06 and its 200-day simple moving average is $206.32.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Sell-side 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 declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $27,000. Trust Co. of Vermont acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $27,000. Farmers & Merchants Investments Inc. increased its holdings in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the last quarter. Raleigh Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $29,000. Finally, Headinvest LLC acquired a new position in shares of Old Dominion Freight Line during the 3rd quarter worth approximately $30,000. 77.82% of the stock is owned by institutional investors and hedge funds.

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.