Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $216.00 at The Goldman Sachs Group

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by The Goldman Sachs Group from $228.00 to $216.00 in a research note published on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also weighed in on ODFL. Morgan Stanley reduced their target price on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an equal weight rating on the stock in a report on Monday, July 8th. Bank of America lowered their target price on Old Dominion Freight Line from $210.00 to $206.00 and set a neutral rating for the company in a research report on Friday, September 6th. Susquehanna lifted their target price on Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a positive rating in a report on Wednesday, September 18th. Wells Fargo & Company decreased their price target on Old Dominion Freight Line from $175.00 to $170.00 and set an underweight rating for the company in a research note on Thursday, September 5th. Finally, BMO Capital Markets lifted their price objective on Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of Hold and an average target price of $200.83.

Old Dominion Freight Line Trading Up 1.2 %

Shares of ODFL stock opened at $194.44 on Wednesday. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80. The stock’s fifty day moving average price is $194.94 and its two-hundred day moving average price is $193.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.46 and a current ratio of 1.46. The company has a market cap of $42.25 billion, a PE ratio of 34.23, a P/E/G ratio of 4.03 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.33 earnings per share. Equities analysts predict that Old Dominion Freight Line will post 5.62 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Insider Activity at Old Dominion Freight Line

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman David S. Congdon sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $195.17, for a total transaction of $1,951,700.00. Following the transaction, the chairman now directly owns 1,391,621 shares in the company, valued at approximately $271,602,670.57. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $201.30, for a total transaction of $6,033,967.50. Following the completion of the sale, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is owned by insiders.

Institutional Trading of Old Dominion Freight Line

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Old Dominion Freight Line by 100.9% during the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares during the period. Capital Research Global Investors increased its position in Old Dominion Freight Line by 59.0% in the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after buying an additional 2,447,121 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock valued at $1,096,849,000 after buying an additional 270,538 shares during the last quarter. Finally, Capital World Investors increased its holdings in Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after acquiring an additional 1,228,116 shares during the period. 77.82% of the stock is currently owned by 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.