Old Dominion Freight Line (NASDAQ:ODFL) Price Target Lowered to $160.00 at Wells Fargo & Company

Old Dominion Freight Line (NASDAQ:ODFL) had its price target trimmed by Wells Fargo & Company from $170.00 to $160.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has an underweight rating on the transportation company’s stock.

A number of other research analysts also recently commented on ODFL. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Wednesday, September 11th. Barclays dropped their target price on shares of Old Dominion Freight Line from $195.00 to $190.00 and set an “equal weight” rating for the company in a research report on Thursday. Susquehanna increased their target price on shares of Old Dominion Freight Line from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Wednesday, September 18th. Stifel Nicolaus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating and dropped their target price for the stock from $209.00 to $197.00 in a research report on Monday, October 21st. Finally, TD Cowen dropped their target price on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating for the company in a research report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.39.

Old Dominion Freight Line Trading Up 3.1 %

NASDAQ ODFL opened at $197.79 on Thursday. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80. The company has a 50-day moving average of $195.53 and a 200-day moving average of $190.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 1.46. The company has a market cap of $42.98 billion, a P/E ratio of 34.82, a P/E/G ratio of 4.20 and a beta of 0.99.

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

Old Dominion Freight Line Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, December 4th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Insider Activity

In other news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman David S. Congdon sold 29,975 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was 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 directly owns 1,401,621 shares in the company, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman David S. Congdon sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chairman now owns 1,391,621 shares of the company’s stock, valued at approximately $271,602,670.57. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 8.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock valued at $876,000 after buying an additional 395 shares during the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in Old Dominion Freight Line by 98.3% during the first quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after purchasing an additional 50,019 shares during the last quarter. Truist Financial Corp lifted its stake in Old Dominion Freight Line by 7.6% during the second quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after purchasing an additional 7,460 shares during the last quarter. Forsta AP Fonden lifted its stake in Old Dominion Freight Line by 65.0% during the first quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after purchasing an additional 15,600 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Old Dominion Freight Line by 98.6% during the first quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after purchasing an additional 21,438 shares during the last quarter. 77.82% of the stock is currently owned by hedge funds and other 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.