Old Dominion Freight Line (NASDAQ:ODFL) Shares Gap Down to $219.28

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) gapped down prior to trading on Wednesday . The stock had previously closed at $219.28, but opened at $208.00. Old Dominion Freight Line shares last traded at $210.17, with a volume of 480,949 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their price objective on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Barclays dropped their price target on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Thursday. Bank of America decreased their price objective on shares of Old Dominion Freight Line from $223.00 to $205.00 and set a “neutral” rating for the company in a research note on Thursday. UBS Group lifted their target price on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Raymond James upped their target price on Old Dominion Freight Line from $207.50 to $233.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $211.26.

Old Dominion Freight Line Stock Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.10. The stock has a market capitalization of $42.81 billion, a P/E ratio of 34.62, a price-to-earnings-growth ratio of 2.80 and a beta of 1.02. The company has a 50 day simple moving average of $220.65 and a 200-day simple moving average of $206.61.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, equities analysts forecast that Old Dominion Freight Line, Inc. will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

Insider Activity at Old Dominion Freight Line

In other news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.40% of the stock is owned by company insiders.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new position in Old Dominion Freight Line during the 4th quarter valued at about $27,000. Trust Co. of Vermont purchased a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $29,000. Headinvest LLC purchased a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter worth approximately $34,000. 77.82% of the stock is currently 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.