Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $200.00 by Analysts at Susquehanna

by · The Markets Daily

Old Dominion Freight Line (NASDAQ:ODFL – Free Report) had its price objective cut by Susquehanna from $202.00 to $200.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Other equities analysts have also recently issued reports about the stock. Truist Financial set a $230.00 target price on shares of Old Dominion Freight Line and gave the company a “buy” rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. decreased their price target on shares of Old Dominion Freight Line from $232.00 to $216.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. Citigroup upgraded shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $231.00 to $223.00 in a research note on Tuesday, September 8th. Sanford C. Bernstein started coverage on shares of Old Dominion Freight Line in a research report on Thursday, September 10th. They set a “market perform” rating and a $200.00 price objective on the stock. Finally, Barclays set a $200.00 price objective on shares of Old Dominion Freight Line and gave the company an “equal weight” rating in a research note on Thursday, October 29th. Ten equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $217.22.

Get Our Latest Research Report on ODFL

Old Dominion Freight Line Stock Down 3.3%

NASDAQ:ODFL traded down $5.64 during mid-day trading on Friday, reaching $164.92. 2,570,611 shares of the stock were exchanged, compared to its average volume of 1,982,908. The company has a 50 day simple moving average of $180.81 and a 200-day simple moving average of $201.46. The stock has a market capitalization of $34.20 billion, a P/E ratio of 29.66, a P/E/G ratio of 2.88 and a beta of 1.14. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The transportation company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.61 by $0.04. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Old Dominion Freight Line had a return on equity of 25.92% and a net margin of 20.08%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 earnings per share. As a group, research analysts predict that Old Dominion Freight Line will post 5.93 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Wednesday, December 2nd. Old Dominion Freight Line’s dividend payout ratio is 20.86%.

Insider Activity at Old Dominion Freight Line

In related news, SVP Cecil Overbey, Jr. sold 19,952 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $198.39, for a total transaction of $3,958,277.28. Following the completion of the sale, the senior vice president directly owned 22,746 shares of the company’s stock, valued at $4,512,578.94. This trade represents a 46.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth $3,416,007,000. Bank of New York Mellon Corp acquired a new position in shares of Old Dominion Freight Line during the second quarter worth about $543,289,000. Legal & General Group Plc purchased a new position in Old Dominion Freight Line during the second quarter worth about $253,155,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Old Dominion Freight Line by 14.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,114,345 shares of the transportation company’s stock worth $241,367,000 after purchasing an additional 142,809 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Old Dominion Freight Line by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,104,713 shares of the transportation company’s stock worth $215,808,000 after purchasing an additional 12,245 shares in the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

About Old Dominion Freight Line

(Get Free Report)

Old Dominion Freight Line is a transportation and logistics company specializing in less-than-truckload (LTL) shipping. It combines freight from multiple customers in its network to transport shipments that do not require an entire truck, and provides pickup and delivery services for businesses.

Founded in 1934 by Earl and Lillian Congdon, the company began with a single truck serving routes between Virginia and North Carolina. It has since expanded its service-center network across the United States, offering regional and national freight transportation.

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