Old Dominion Freight Line (NASDAQ:ODFL) Given New $205.00 Price Target at JPMorgan Chase & Co.

Old Dominion Freight Line (NASDAQ:ODFL) had its price target upped by JPMorgan Chase & Co. from $186.00 to $205.00 in a research report report published on Friday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other analysts have also issued reports on ODFL. Susquehanna lowered their target price on Old Dominion Freight Line from $225.00 to $218.00 and set a “positive” rating on the stock in a research note on Thursday, October 24th. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Citigroup increased their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Stifel Nicolaus lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and lowered their price target for the company from $209.00 to $197.00 in a research report on Monday, October 21st. Finally, Evercore ISI cut their price objective on shares of Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $202.88.

Old Dominion Freight Line Price Performance

ODFL opened at $203.00 on Friday. The firm has a market cap of $43.34 billion, a P/E ratio of 35.49, a PEG ratio of 4.41 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm has a 50-day moving average of $208.18 and a 200 day moving average of $195.17.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.01. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 EPS. On average, research analysts expect that Old Dominion Freight Line will post 5.43 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.18%.

Insider Transactions at Old Dominion Freight Line

In other Old Dominion Freight Line news, Director Greg C. Gantt sold 7,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $200.07, for a total transaction of $1,400,490.00. Following the sale, the director now owns 97,890 shares in the company, valued at $19,584,852.30. This trade represents a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Leo H. Suggs sold 3,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $225.44, for a total value of $676,320.00. Following the completion of the transaction, the director now owns 7,383 shares of the company’s stock, valued at $1,664,423.52. The trade was a 28.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently modified their holdings of the company. CWM LLC grew its position in Old Dominion Freight Line by 97.8% during the second quarter. CWM LLC now owns 9,750 shares of the transportation company’s stock valued at $1,722,000 after acquiring an additional 4,820 shares during the last quarter. Csenge Advisory Group grew its holdings in shares of Old Dominion Freight Line by 7.5% during the 2nd quarter. Csenge Advisory Group now owns 1,630 shares of the transportation company’s stock valued at $288,000 after purchasing an additional 114 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Old Dominion Freight Line by 40.3% during the 2nd quarter. QRG Capital Management Inc. now owns 6,095 shares of the transportation company’s stock valued at $1,076,000 after purchasing an additional 1,752 shares during the last quarter. Gateway Investment Advisers LLC raised its position in Old Dominion Freight Line by 0.6% in the 2nd quarter. Gateway Investment Advisers LLC now owns 82,404 shares of the transportation company’s stock worth $14,553,000 after purchasing an additional 516 shares during the period. Finally, Czech National Bank lifted its stake in Old Dominion Freight Line by 7.8% in the second quarter. Czech National Bank now owns 33,953 shares of the transportation company’s stock worth $5,996,000 after purchasing an additional 2,469 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other 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.