Evercore ISI Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $225.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by Evercore ISI from $241.00 to $225.00 in a research report released on Thursday, Benzinga reports. Evercore ISI currently has an outperform rating on the transportation company’s stock.

A number of other brokerages have also weighed in on ODFL. JPMorgan Chase & Co. cut their target price on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. Susquehanna raised their price objective 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. Bank of America restated a neutral rating and issued a $223.00 price objective (up from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. Stifel Nicolaus raised their price objective 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 cut their price objective on shares of Old Dominion Freight Line to $210.00 and set an equal weight rating for the company in a research report on Thursday, April 4th. Eleven 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 company presently has a consensus rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $182.42 on Thursday. Old Dominion Freight Line has a 52-week low of $147.90 and a 52-week high of $227.80. The company has a 50-day simple moving average of $220.06 and a 200 day simple moving average of $206.32. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.29. The company has a market capitalization of $39.71 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 2.85 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. On average, research analysts predict that Old Dominion Freight Line will post 6.16 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 paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of Old Dominion Freight Line 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 of the company’s stock, valued at $2,993,355.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ODFL. Fortitude Family Office LLC purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $27,000. Trust Co. of Vermont purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. increased its stake in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after buying an additional 62 shares during the period. Raleigh Capital Management Inc. purchased a new position in shares of Old Dominion Freight Line in the fourth quarter worth $29,000. Finally, Headinvest LLC purchased a new position in shares of Old Dominion Freight Line in the third quarter worth $30,000. 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.