UBS Group Raises Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $205.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective upped by UBS Group from $202.00 to $205.00 in a research report report published on Thursday, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other analysts have also recently weighed in on ODFL. JPMorgan Chase & Co. decreased their price objective on shares of Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Bank of America reaffirmed a neutral rating and set a $223.00 price objective (up from $221.50) on shares of Old Dominion Freight Line in a research note on Wednesday, March 6th. Susquehanna upped 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. Raymond James upped their target price on shares of Old Dominion Freight Line from $207.50 to $233.00 and gave the stock an outperform rating in a research report on Monday, April 15th. Finally, The Goldman Sachs Group upped their target price on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a neutral rating in a research report on Thursday, February 8th. Eleven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Old Dominion Freight Line has an average rating of Hold and an average price target of $210.97.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $182.42 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The stock has a market cap of $39.71 billion, a P/E ratio of 32.12, a PEG ratio of 2.85 and a beta of 1.02. Old Dominion Freight Line has a twelve month low of $147.90 and a twelve month high of $227.80. The company’s 50-day simple moving average is $220.06 and its 200 day simple moving average is $206.37.

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, topping the consensus estimate of $1.33 by $0.01. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations 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 forecast that Old Dominion Freight Line will post 6.16 earnings per share for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.26 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.04 annualized dividend and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the 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 sale, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Large investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas increased its position in shares of Old Dominion Freight Line by 0.4% during the third quarter. Teacher Retirement System of Texas now owns 23,288 shares of the transportation company’s stock worth $9,528,000 after acquiring an additional 92 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Old Dominion Freight Line by 14.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,016 shares of the transportation company’s stock worth $7,371,000 after acquiring an additional 2,335 shares in the last quarter. Czech National Bank increased its position in shares of Old Dominion Freight Line by 47.1% during the third quarter. Czech National Bank now owns 15,662 shares of the transportation company’s stock worth $6,408,000 after acquiring an additional 5,017 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in shares of Old Dominion Freight Line during the third quarter worth $783,000. Finally, Pittenger & Anderson Inc. grew its position in Old Dominion Freight Line by 617.3% in the third quarter. Pittenger & Anderson Inc. now owns 6,327 shares of the transportation company’s stock valued at $2,589,000 after purchasing an additional 5,445 shares in the last quarter. Institutional investors own 77.82% of the company’s stock.

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.