Old Dominion Freight Line (NASDAQ:ODFL) Given New $200.00 Price Target at Robert W. Baird

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lowered by Robert W. Baird from $204.00 to $200.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

Several other analysts have also weighed in on the company. Raymond James boosted their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Bank of America lowered their price objective on shares of 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. Wells Fargo & Company lowered their target price on Old Dominion Freight Line from $175.00 to $170.00 and set an “underweight” rating on the stock in a report on Thursday, September 5th. Stephens reiterated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a report on Thursday, September 5th. Finally, Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Old Dominion Freight Line has an average rating of “Hold” and a consensus price target of $196.39.

Old Dominion Freight Line Trading Up 1.7 %

ODFL stock traded up $3.23 on Thursday, hitting $195.04. 123,115 shares of the company were exchanged, compared to its average volume of 1,543,883. The stock has a market capitalization of $42.38 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. The business’s fifty day moving average is $195.58 and its two-hundred day moving average is $190.85. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.49 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.54 earnings per share. As a group, research analysts forecast that Old Dominion Freight Line will post 5.56 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.04 dividend on an annualized basis and a yield of 0.53%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 17.82%.

Insider Activity

In related news, Chairman David S. Congdon sold 10,000 shares of Old Dominion Freight Line stock in a transaction dated Thursday, August 29th. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman David S. Congdon sold 29,975 shares of the firm’s 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 transaction, the chairman now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chairman now directly owns 1,391,621 shares of the company’s stock, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Institutional Trading of Old Dominion Freight Line

Institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its position in Old Dominion Freight Line by 108.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,718 shares of the transportation company’s stock worth $540,000 after purchasing an additional 1,412 shares during the period. Traynor Capital Management Inc. bought a new position in Old Dominion Freight Line in the third quarter worth approximately $1,206,000. abrdn plc grew its holdings in Old Dominion Freight Line by 15.8% during the third quarter. abrdn plc now owns 61,078 shares of the transportation company’s stock worth $12,104,000 after buying an additional 8,329 shares in the last quarter. Hunter Associates Investment Management LLC grew its stake in Old Dominion Freight Line by 24.9% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 11,499 shares of the transportation company’s stock valued at $2,284,000 after purchasing an additional 2,294 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter worth about $514,000. 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.