Old Dominion Freight Line (NASDAQ:ODFL) Given New $205.00 Price Target at UBS Group

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective boosted by UBS Group from $202.00 to $205.00 in a research note released on Thursday morning, Benzinga reports. UBS Group currently has a neutral rating on the transportation company’s stock.

A number of other analysts have also recently issued reports on ODFL. The Goldman Sachs Group increased their price objective on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a research note on Thursday, February 8th. Raymond James increased their price objective on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an outperform rating in a research note on Monday, April 15th. Susquehanna increased their price objective on shares of 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. Stifel Nicolaus increased their price objective on shares of Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a buy rating in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating for the company in a research note on Tuesday, April 9th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $210.97.

Old Dominion Freight Line Stock Performance

ODFL traded down $11.99 during trading on Thursday, hitting $184.67. The company’s stock had a trading volume of 1,966,665 shares, compared to its average volume of 1,397,037. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80. The firm has a market cap of $40.20 billion, a PE ratio of 32.32, a P/E/G ratio of 2.80 and a beta of 1.02. The business’s 50 day simple moving average is $220.65 and its 200-day simple moving average is $206.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. As a group, sell-side analysts predict that Old Dominion Freight Line will post 6.35 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.56%. 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 Old Dominion Freight Line 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 directly owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Several institutional investors have recently made changes to their positions in ODFL. Fortitude Family Office LLC bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $27,000. Trust Co. of Vermont bought a new stake in Old Dominion Freight Line during the 4th quarter valued at about $27,000. Farmers & Merchants Investments Inc. lifted its holdings in Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $29,000. Finally, Headinvest LLC bought a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at about $30,000. Institutional investors 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.