Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $225.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by Susquehanna from $210.00 to $225.00 in a report published on Wednesday, Benzinga reports. They currently have a positive rating on the transportation company’s stock.

A number of other equities analysts have also commented on ODFL. Barclays reduced 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 research note on Wednesday, June 12th. TD Cowen reduced their price objective on Old Dominion Freight Line from $214.00 to $209.00 and set a hold rating on the stock in a research note on Friday, September 6th. Benchmark reissued a hold rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Wells Fargo & Company cut their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an underweight rating on the stock in a research note on Thursday, September 5th. Finally, Bank of America cut their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a neutral rating on the stock in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $201.83.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $196.75 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The firm has a market cap of $42.75 billion, a price-to-earnings ratio of 34.64, a P/E/G ratio of 3.92 and a beta of 0.99. The stock’s fifty day simple moving average is $195.55 and its 200 day simple moving average is $195.94. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The company 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%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. On average, analysts expect that Old Dominion Freight Line will post 5.64 earnings per share for the current fiscal 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 issued a $0.26 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at $282,146,307.30. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after buying an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Old Dominion Freight Line by 117.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after acquiring an additional 7,401,526 shares in the last quarter. Capital Research Global Investors lifted its stake in Old Dominion Freight Line by 59.0% in the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after acquiring an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Old Dominion Freight Line by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after purchasing an additional 270,538 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of Old Dominion Freight Line by 101.0% in the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after purchasing an additional 1,228,116 shares in the last quarter. 77.82% of the stock is currently owned by institutional investors.

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.