Old Dominion Freight Line (NASDAQ:ODFL) Given New $225.00 Price Target at Susquehanna

Old Dominion Freight Line (NASDAQ:ODFL) had its target price increased by Susquehanna from $210.00 to $225.00 in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a positive rating on the transportation company’s stock.

A number of other equities research analysts also recently weighed in on ODFL. Robert W. Baird raised their price target on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Morgan Stanley cut their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an equal weight rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. cut their price target on Old Dominion Freight Line from $193.00 to $189.00 and set a neutral rating for the company in a research note on Friday, September 6th. Raymond James raised their price target on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Finally, Bank of America cut their price target on Old Dominion Freight Line from $210.00 to $206.00 and set a neutral rating for the company in a research note on Friday, September 6th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $201.83.

Old Dominion Freight Line Stock Up 1.1 %

Shares of Old Dominion Freight Line stock opened at $196.75 on Wednesday. The stock has a 50-day moving average price of $195.55 and a 200 day moving average price of $195.94. The company has a market cap of $42.75 billion, a P/E ratio of 34.64, a P/E/G ratio of 3.92 and a beta of 0.99. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.33 EPS. As a group, analysts expect that Old Dominion Freight Line will post 5.64 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.53%. The ex-dividend date was Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Chairman David S. Congdon sold 29,975 shares of Old Dominion Freight Line 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 transaction, the chairman now directly owns 1,401,621 shares of the company’s stock, valued at approximately $282,146,307.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Chairman David S. Congdon sold 29,975 shares of the business’s 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 sale, the chairman now directly owns 1,401,621 shares in the company, valued at $282,146,307.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman David S. Congdon sold 10,000 shares of the business’s 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 sale, the chairman now owns 1,391,621 shares in the company, valued at $271,602,670.57. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors and hedge funds have recently modified their holdings of ODFL. Benjamin Edwards Inc. bought a new stake in shares of Old Dominion Freight Line during the second quarter valued at approximately $25,000. Trust Co. of Vermont acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $27,000. Farmers & Merchants Investments Inc. boosted its stake in Old Dominion Freight Line by 100.0% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after buying an additional 62 shares in the last quarter. Atwood & Palmer Inc. boosted its stake in Old Dominion Freight Line by 3,700.0% in the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after buying an additional 148 shares in the last quarter. Finally, Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at $29,000. 77.82% of the stock is currently owned by institutional investors.

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.