Old Dominion Freight Line (NASDAQ:ODFL) Given New $233.00 Price Target at Raymond James

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective raised by Raymond James from $207.50 to $233.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the transportation company’s stock.

ODFL has been the topic of several other research reports. Bank of America reissued a neutral rating and set a $223.00 target price (up previously from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. JPMorgan Chase & Co. cut their target price on Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating on the stock in a research report on Tuesday, April 9th. 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 report on Thursday, February 8th. 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 report on Thursday, February 8th. Finally, Stifel Nicolaus boosted their target price on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Nine investment 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, the stock has a consensus rating of Hold and an average price target of $214.19.

Old Dominion Freight Line Stock Down 0.5 %

Shares of ODFL opened at $219.95 on Monday. The stock has a market capitalization of $47.88 billion, a price-to-earnings ratio of 39.07, a price-to-earnings-growth ratio of 3.17 and a beta of 1.02. Old Dominion Freight Line has a 1 year low of $147.90 and a 1 year high of $227.80. The business’s 50 day simple moving average is $221.63 and its 200-day simple moving average is $206.30. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.46 EPS. As a group, equities analysts expect that Old Dominion Freight Line will post 6.35 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s payout ratio is 18.47%.

Insider Transactions at Old Dominion Freight Line

In other news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line during the 4th quarter worth $27,000. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $27,000. Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $29,000. Headinvest LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter worth about $30,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth about $34,000. 77.82% of the stock is currently 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.