Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $170.00 at Wells Fargo & Company

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by Wells Fargo & Company from $175.00 to $170.00 in a research report report published on Thursday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on ODFL. Bank of America upped their target price on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a neutral rating in a report on Monday, July 22nd. BMO Capital Markets increased their target price on shares of Old Dominion Freight Line from $210.00 to $215.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Susquehanna lowered their price target on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating on the stock in a report on Wednesday, June 12th. Robert W. Baird upped their price target on shares of Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Finally, TD Cowen lifted their price objective on Old Dominion Freight Line from $206.00 to $214.00 and gave the company a hold rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line presently has a consensus rating of Hold and a consensus price target of $201.00.

Old Dominion Freight Line Stock Down 0.7 %

Shares of NASDAQ:ODFL opened at $184.82 on Thursday. The firm has a 50 day simple moving average of $194.08 and a 200 day simple moving average of $197.46. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $227.80. 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 $40.16 billion, a PE ratio of 32.54, a price-to-earnings-growth ratio of 3.76 and a beta of 0.99.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. The business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. Old Dominion Freight Line’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.33 earnings per share. As a group, research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is currently 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 on 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 transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $201.30, for a total value of $6,033,967.50. Following the transaction, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $195.17, for a total value of $1,951,700.00. Following the sale, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently modified their holdings of ODFL. Benjamin Edwards Inc. bought a new stake in Old Dominion Freight Line in the 2nd quarter valued at $25,000. Trust Co. of Vermont acquired a new stake in Old Dominion Freight Line during the fourth quarter worth about $27,000. Farmers & Merchants Investments Inc. increased 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 acquiring an additional 62 shares during the period. Atwood & Palmer Inc. increased its stake in Old Dominion Freight Line by 3,700.0% during the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 148 shares during the period. Finally, Raleigh Capital Management Inc. acquired a new position in Old Dominion Freight Line in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

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.