Old Dominion Freight Line (NASDAQ:ODFL) Shares Gap Down After Analyst Downgrade

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Free Report) gapped down before the market opened on Thursday after Bank of America lowered their price target on the stock from $205.00 to $192.00. The stock had previously closed at $175.70, but opened at $171.12. Bank of America currently has a neutral rating on the stock. Old Dominion Freight Line shares last traded at $167.16, with a volume of 291,505 shares.

A number of other equities analysts have also issued reports on ODFL. Raymond James raised their price target on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. BMO Capital Markets started coverage on Old Dominion Freight Line in a report on Wednesday. They set an “outperform” rating and a $210.00 price target on the stock. UBS Group raised their price target on Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. TD Cowen lowered their price target on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Finally, Evercore ISI reduced their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Twelve analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $208.48.

Get Our Latest Report on Old Dominion Freight Line

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ODFL. Fortitude Family Office LLC acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth approximately $27,000. Trust Co. of Vermont acquired a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $27,000. Farmers & Merchants Investments Inc. lifted its stake in Old Dominion Freight Line by 100.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line during the fourth quarter valued at approximately $29,000. Finally, Headinvest LLC acquired a new stake in Old Dominion Freight Line during the third quarter valued at approximately $30,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Trading Down 3.3 %

The firm has a market capitalization of $36.90 billion, a price-to-earnings ratio of 29.90, a price-to-earnings-growth ratio of 2.18 and a beta of 1.02. The firm’s 50 day moving average is $193.30 and its 200 day moving average is $202.50. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. Equities analysts forecast that Old Dominion Freight Line, Inc. will post 6.02 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.04 annualized dividend and a yield of 0.61%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

About Old Dominion Freight Line

(Get Free Report)

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.

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