Old Dominion Freight Line (NASDAQ:ODFL) Shares Gap Down to $220.48

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) gapped down before the market opened on Wednesday . The stock had previously closed at $220.48, but opened at $212.32. Old Dominion Freight Line shares last traded at $213.23, with a volume of 414,383 shares changing hands.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Raymond James upped their target price on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a research report on Monday. 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 on the stock in a research report on Tuesday, April 9th. Susquehanna upped their target price on shares of 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. Stifel Nicolaus upped their target price on shares of 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. Finally, Barclays reduced their price objective 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. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $214.19.

Old Dominion Freight Line Trading Down 1.4 %

The firm has a market capitalization of $45.24 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 3.03 and a beta of 1.02. The stock’s 50-day moving average price is $221.48 and its 200 day moving average price is $206.45. 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 earnings results on Wednesday, January 31st. The transportation company reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.04. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts expect that Old Dominion Freight Line, Inc. will post 6.35 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. Stockholders of record on Wednesday, March 6th were paid a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.50%. Old Dominion Freight Line’s dividend payout ratio is presently 18.47%.

Insider Activity

In other news, Director John D. Kasarda sold 15,944 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several institutional investors have recently bought and sold shares of the company. SeaCrest Wealth Management LLC boosted its stake in Old Dominion Freight Line by 126.9% in the first quarter. SeaCrest Wealth Management LLC now owns 3,775 shares of the transportation company’s stock valued at $828,000 after acquiring an additional 2,111 shares in the last quarter. Wasatch Advisors LP boosted its stake in Old Dominion Freight Line by 121.5% in the first quarter. Wasatch Advisors LP now owns 6,506 shares of the transportation company’s stock valued at $1,427,000 after acquiring an additional 3,569 shares in the last quarter. State of Michigan Retirement System boosted its stake in Old Dominion Freight Line by 100.0% in the first quarter. State of Michigan Retirement System now owns 77,388 shares of the transportation company’s stock valued at $16,972,000 after acquiring an additional 38,694 shares in the last quarter. MV Capital Management Inc. boosted its stake in Old Dominion Freight Line by 100.0% in the first quarter. MV Capital Management Inc. now owns 156 shares of the transportation company’s stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in Old Dominion Freight Line by 100.5% in the first quarter. Capital Advisors Ltd. LLC now owns 796 shares of the transportation company’s stock valued at $175,000 after acquiring an additional 399 shares in the last quarter. 77.82% of the stock is currently 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.