Old Dominion Freight Line (NASDAQ:ODFL) Shares Gap Down to $220.48

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) gapped down before the market opened on Wednesday . The stock had previously closed at $220.48, but opened at $212.32. Old Dominion Freight Line shares last traded at $213.23, with a volume of 414,383 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ODFL. Bank of America reissued a “neutral” rating and issued a $223.00 target price (up previously from $221.50) on shares of Old Dominion Freight Line in a research report on Wednesday, March 6th. Barclays reduced their price target on Old Dominion Freight Line to $210.00 and set an “equal weight” rating for the company in a research note on Thursday, April 4th. Susquehanna lifted their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a report on Thursday, February 8th. The Goldman Sachs Group lifted their price objective on Old Dominion Freight Line from $200.00 to $222.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Stifel Nicolaus boosted their price target on Old Dominion Freight Line from $208.00 to $217.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $214.19.

Old Dominion Freight Line Stock Down 1.4 %

The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $45.24 billion, a PE ratio of 36.91, a P/E/G ratio of 3.03 and a beta of 1.02. The stock has a 50-day moving average of $221.48 and a 200 day moving average of $206.45.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.04. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company earned $1.46 earnings per share. Old Dominion Freight Line’s revenue was up .3% compared to the same quarter last year. Sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.47%.

Insider Buying and Selling at Old Dominion Freight Line

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 stock was sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the completion of the transaction, the director now directly owns 13,540 shares of the company’s stock, valued at $2,993,355.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Dominion Freight Line

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth $27,000. Trust Co. of Vermont bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth $27,000. Farmers & Merchants Investments Inc. boosted its holdings in shares of Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after acquiring an additional 62 shares during the period. Raleigh Capital Management Inc. bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth $29,000. Finally, Headinvest LLC bought a new position in shares of Old Dominion Freight Line in the third quarter worth $30,000. 77.82% of the stock is owned by 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.