Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Free Report)’s stock price 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 changing hands.
Several other brokerages also recently weighed in on ODFL. JPMorgan Chase & Co. decreased their target price on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. TD Cowen reduced their price objective on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Raymond James raised their price objective on Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Susquehanna raised 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. Finally, BMO Capital Markets started coverage on Old Dominion Freight Line in a research report on Wednesday. They issued an “outperform” rating and a $210.00 price objective for the company. Twelve analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line presently has an average rating of “Hold” and an average price target of $208.48.
Institutional Investors Weigh In On Old Dominion Freight Line
A number of hedge funds and other institutional investors have recently bought and sold shares of ODFL. Kestra Private Wealth Services LLC increased its holdings in Old Dominion Freight Line by 2.4% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 1,644 shares of the transportation company’s stock valued at $673,000 after purchasing an additional 39 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Old Dominion Freight Line during the 3rd quarter valued at $783,000. Avantax Advisory Services Inc. increased its holdings in Old Dominion Freight Line by 12.1% during the 3rd quarter. Avantax Advisory Services Inc. now owns 2,674 shares of the transportation company’s stock valued at $1,094,000 after purchasing an additional 288 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in Old Dominion Freight Line by 636.1% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 10,732 shares of the transportation company’s stock valued at $4,391,000 after purchasing an additional 9,274 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Old Dominion Freight Line by 1.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 35,433 shares of the transportation company’s stock valued at $14,497,000 after purchasing an additional 402 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.
Old Dominion Freight Line Price Performance
The company has a 50 day moving average price of $193.30 and a 200 day moving average price of $202.50. The company has a market capitalization of $36.90 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 2.18 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.
Old Dominion Freight Line (NASDAQ:ODFL – Get 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. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. As a group, equities research analysts forecast that Old Dominion Freight Line, Inc. will post 6.02 earnings per share for the current year.
Old Dominion Freight Line Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.61%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.
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.