Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $225.00 at Susquehanna

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective upped by Susquehanna from $210.00 to $225.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a positive rating on the transportation company’s stock.

Several other research analysts also recently weighed in on the company. Evercore ISI reaffirmed an in-line rating and set a $196.00 target price (down from $225.00) on shares of Old Dominion Freight Line in a research note on Tuesday, June 25th. Benchmark restated a hold rating on shares of Old Dominion Freight Line in a report on Wednesday, September 11th. Raymond James upped their price objective 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 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. Finally, Morgan Stanley cut their price objective on Old Dominion Freight Line from $174.00 to $168.00 and set an equal weight rating on the stock in a research report on Monday, July 8th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line has a consensus rating of Hold and an average price target of $201.83.

Old Dominion Freight Line Stock Performance

Old Dominion Freight Line stock opened at $193.97 on Wednesday. The company has a market cap of $42.15 billion, a PE ratio of 34.15, a price-to-earnings-growth ratio of 3.92 and a beta of 0.99. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $196.27 and its 200-day moving average price is $195.80. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. Old Dominion Freight Line’s revenue was up 6.1% on a year-over-year basis. On average, equities research analysts forecast that Old Dominion Freight Line will post 5.64 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on 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 directly owns 1,391,621 shares in the company, valued at $271,602,670.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman David S. Congdon sold 29,975 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $282,146,307.30. The sale was disclosed in a filing with the SEC, which can be accessed 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 value 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 disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock worth $4,780,004,000 after purchasing an additional 10,944,520 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Old Dominion Freight Line by 117.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after purchasing an additional 7,401,526 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Old Dominion Freight Line by 59.0% in the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after buying an additional 2,447,121 shares during the period. Bank of New York Mellon Corp raised its holdings in Old Dominion Freight Line by 4.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares during the last quarter. Finally, Capital World Investors raised its stake in Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after buying an additional 1,228,116 shares during 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.