Old Dominion Freight Line (NASDAQ:ODFL) Given New $206.00 Price Target at TD Cowen

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective trimmed by TD Cowen from $209.00 to $206.00 in a report published on Friday morning, Marketbeat.com reports. The firm currently has a hold rating on the transportation company’s stock.

ODFL has been the topic of a number of other reports. Bank of America reduced their target price on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a neutral rating on the stock in a research note on Thursday, April 25th. UBS Group upped their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a neutral rating in a report on Thursday, April 25th. Susquehanna raised their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a research note on Thursday, February 8th. The Goldman Sachs Group lifted their target price on 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. Finally, Raymond James increased 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. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of Hold and a consensus target price of $209.08.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $184.24 on Friday. The business’s 50 day moving average price is $219.52 and its 200 day moving average price is $206.13. The company has a market cap of $40.10 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 2.85 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.29. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. 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 announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s payout ratio is currently 18.31%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total value of $3,524,819.80. Following the completion of the transaction, the director now 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 accessible through this hyperlink. 10.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC grew its holdings in Old Dominion Freight Line by 106.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,584 shares of the transportation company’s stock worth $1,057,000 after acquiring an additional 1,335 shares in the last quarter. CX Institutional acquired a new position in Old Dominion Freight Line in the third quarter valued at $389,000. UMB Bank n.a. increased its position in shares of Old Dominion Freight Line by 15.8% during the third quarter. UMB Bank n.a. now owns 242 shares of the transportation company’s stock worth $99,000 after purchasing an additional 33 shares in the last quarter. Czech National Bank lifted its holdings in shares of Old Dominion Freight Line by 47.1% in the 3rd quarter. Czech National Bank now owns 15,662 shares of the transportation company’s stock valued at $6,408,000 after purchasing an additional 5,017 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of Old Dominion Freight Line by 2.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 61,400 shares of the transportation company’s stock valued at $25,121,000 after purchasing an additional 1,754 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.