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

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

Several other equities research analysts also recently commented on ODFL. Stephens restated an “overweight” rating and issued a $214.00 target price on shares of Old Dominion Freight Line in a research note on Thursday, September 5th. BMO Capital Markets lowered shares of Old Dominion Freight Line from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $214.00 to $210.00 in a report on Friday, October 18th. Evercore ISI decreased their target price on Old Dominion Freight Line from $199.00 to $188.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Benchmark restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, September 11th. Finally, TD Cowen cut their price target on shares of Old Dominion Freight Line from $214.00 to $209.00 and set a “hold” rating on the stock in a research note on Friday, September 6th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Old Dominion Freight Line has a consensus 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. The stock has a market cap of $42.98 billion, a PE ratio of 34.82, a price-to-earnings-growth ratio of 4.20 and a beta of 0.99. 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 stock’s 50-day moving average is $195.53 and its two-hundred day moving average is $190.26. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $1.43 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $1.54 earnings per share. Old Dominion Freight Line’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities research analysts forecast that Old Dominion Freight Line will post 5.56 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

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

Insider Buying and Selling

In related news, Chairman David S. Congdon sold 10,000 shares of the company’s stock in a transaction on 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 in the company, valued at $271,602,670.57. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $6,033,967.50. Following the completion of the transaction, the chairman now owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the 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 completion of 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 position. The disclosure for this sale can be found here. 9.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 8.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 4,962 shares of the transportation company’s stock worth $876,000 after purchasing an additional 395 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in Old Dominion Freight Line by 98.3% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after buying an additional 50,019 shares in the last quarter. Truist Financial Corp raised its position in Old Dominion Freight Line by 7.6% in the 2nd quarter. Truist Financial Corp now owns 106,193 shares of the transportation company’s stock worth $18,754,000 after buying an additional 7,460 shares during the last quarter. Forsta AP Fonden raised its position in Old Dominion Freight Line by 65.0% in the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after buying 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 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock valued at $9,471,000 after acquiring an additional 21,438 shares during the period. Hedge funds and other institutional investors 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.