Old Dominion Freight Line (NASDAQ:ODFL) PT Lowered to $190.00 at Raymond James

Old Dominion Freight Line (NASDAQ:ODFL) had its price target decreased by Raymond James from $215.00 to $190.00 in a research report released on Monday morning, Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

Several other equities research analysts also recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Old Dominion Freight Line from $231.00 to $219.00 and set a neutral rating for the company in a research report on Thursday, April 25th. Robert W. Baird upgraded Old Dominion Freight Line from a neutral rating to an outperform rating and set a $205.00 price target for the company in a research note on Wednesday, May 8th. Wells Fargo & Company initiated coverage on Old Dominion Freight Line in a report on Friday, June 7th. They issued an underweight rating and a $175.00 price objective on the stock. Susquehanna dropped their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating for the company in a report on Wednesday, June 12th. Finally, Bank of America reduced their target price on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a neutral rating for the company in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Old Dominion Freight Line presently has an average rating of Hold and an average price target of $201.18.

Old Dominion Freight Line Stock Up 0.7 %

ODFL opened at $176.04 on Monday. The stock’s fifty day simple moving average is $180.50 and its 200 day simple moving average is $200.29. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $227.80. The stock has a market cap of $38.25 billion, a PE ratio of 30.99, a price-to-earnings-growth ratio of 2.28 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. As a group, research analysts expect that Old Dominion Freight Line will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, June 5th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.59%. The ex-dividend date was Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Rise Advisors LLC grew its holdings in shares of Old Dominion Freight Line by 369.2% during the 1st quarter. Rise Advisors LLC now owns 183 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 144 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Old Dominion Freight Line by 1.3% during the fourth 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 in the last quarter. US Bancorp DE lifted its stake in shares of Old Dominion Freight Line by 1.0% in the 4th quarter. US Bancorp DE now owns 18,134 shares of the transportation company’s stock valued at $7,351,000 after acquiring an additional 182 shares during the last quarter. Dai ichi Life Insurance Company Ltd boosted its holdings in shares of Old Dominion Freight Line by 67.5% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 45,962 shares of the transportation company’s stock valued at $18,630,000 after acquiring an additional 18,517 shares in the last quarter. Finally, Parnassus Investments LLC boosted its holdings in shares of Old Dominion Freight Line by 42.4% during the 4th quarter. Parnassus Investments LLC now owns 339,520 shares of the transportation company’s stock valued at $137,618,000 after acquiring an additional 101,079 shares in the last quarter. 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.