Old Dominion Freight Line (NASDAQ:ODFL) Shares Gap Down to $219.28

Old Dominion Freight Line, Inc. (NASDAQ:ODFL)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $219.28, but opened at $208.00. Old Dominion Freight Line shares last traded at $210.17, with a volume of 480,949 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. UBS Group boosted their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America lowered their price objective on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating for the company in a research report on Thursday. The Goldman Sachs Group boosted their price objective on shares of 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. Stifel Nicolaus lifted their price target on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Susquehanna upped their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research report on Thursday, February 8th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and an average price target of $211.26.

Old Dominion Freight Line Stock Up 0.8 %

The firm has a market capitalization of $42.81 billion, a P/E ratio of 34.62, a PEG ratio of 2.80 and a beta of 1.02. The firm’s 50 day moving average is $220.65 and its two-hundred day moving average is $206.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. Research analysts predict that Old Dominion Freight Line, Inc. will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The firm 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 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

In related 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 directly 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 this hyperlink. Corporate insiders own 10.40% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

Several hedge funds and other institutional investors have recently modified their holdings of ODFL. Bank of New York Mellon Corp lifted its position in Old Dominion Freight Line by 94.6% during the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after acquiring an additional 2,888,205 shares during the last quarter. Norges Bank bought a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $495,387,000. WCM Investment Management LLC lifted its holdings in Old Dominion Freight Line by 95.9% during the 1st quarter. WCM Investment Management LLC now owns 1,986,197 shares of the transportation company’s stock worth $435,593,000 after purchasing an additional 972,531 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Old Dominion Freight Line by 39,016.7% in the 4th quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock valued at $285,869,000 after purchasing an additional 703,471 shares during the period. Finally, Canal Capital Management LLC grew its holdings in Old Dominion Freight Line by 100.8% in the 1st quarter. Canal Capital Management LLC now owns 565,496 shares of the transportation company’s stock valued at $124,019,000 after buying an additional 283,884 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

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.