Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $216.00 by Analysts at The Goldman Sachs Group

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

A number of other research analysts have also recently commented on the stock. Barclays cut their price target on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating on the stock in a report on Wednesday, June 12th. Raymond James upped their price target on shares of Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Bank of America dropped their target price on shares of Old Dominion Freight Line from $210.00 to $206.00 and set a neutral rating on the stock in a report on Friday, September 6th. Morgan Stanley dropped 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. Finally, Benchmark reiterated a hold rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $200.83.

Old Dominion Freight Line Trading Up 2.6 %

NASDAQ ODFL opened at $199.58 on Wednesday. The company’s 50-day moving average price is $194.85 and its 200-day moving average price is $193.42. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock has a market cap of $43.37 billion, a PE ratio of 35.14, a PEG ratio of 4.06 and a beta of 0.99. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 earnings per share. Equities research analysts forecast that Old Dominion Freight Line will post 5.6 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders 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 0.52%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Insider Buying and Selling at Old Dominion Freight Line

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

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently modified their holdings of ODFL. Wasatch Advisors LP raised its position in shares of Old Dominion Freight Line by 14.1% in the 4th quarter. Wasatch Advisors LP now owns 2,937 shares of the transportation company’s stock valued at $1,190,000 after purchasing an additional 363 shares during the last quarter. Power Corp of Canada purchased a new position in Old Dominion Freight Line during the 4th quarter worth approximately $268,000. Price T Rowe Associates Inc. MD raised its position in Old Dominion Freight Line by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock worth $2,563,843,000 after buying an additional 81,122 shares during the last quarter. Osterweis Capital Management Inc. lifted its stake in Old Dominion Freight Line by 9.4% during the 4th quarter. Osterweis Capital Management Inc. now owns 64,190 shares of the transportation company’s stock valued at $26,018,000 after acquiring an additional 5,490 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Old Dominion Freight Line by 39.1% in the 4th quarter. V Square Quantitative Management LLC now owns 1,532 shares of the transportation company’s stock valued at $621,000 after acquiring an additional 431 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other 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.