Old Dominion Freight Line (NASDAQ:ODFL) Stock Price Passes Above 200-Day Moving Average of $204.86

Old Dominion Freight Line, Inc. (NASDAQ:ODFL)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $204.86 and traded as high as $439.32. Old Dominion Freight Line shares last traded at $427.95, with a volume of 504,345 shares.

Analyst Upgrades and Downgrades

ODFL has been the subject of a number of research analyst reports. Raymond James lowered their price objective on shares of Old Dominion Freight Line from $212.50 to $207.50 and set an “outperform” rating for the company in a research report on Monday, December 11th. Susquehanna increased their price objective on shares of Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a “positive” rating in a research report on Thursday, February 8th. The Goldman Sachs Group increased their price objective on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. initiated coverage on shares of Old Dominion Freight Line in a report on Monday, March 11th. They set a “neutral” rating and a $232.50 target price on the stock. Finally, Bank of America reiterated a “neutral” rating and set a $223.00 target price (up from $221.50) on shares of Old Dominion Freight Line in a report on Wednesday, March 6th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $211.59.

Old Dominion Freight Line Price Performance

The company’s 50 day moving average is $216.46 and its 200 day moving average is $204.96. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $47.74 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 3.02 and a beta of 1.03.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. Old Dominion Freight Line had a net margin of 21.13% and a return on equity of 31.18%. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the firm posted $1.46 EPS. Old Dominion Freight Line’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts anticipate that Old Dominion Freight Line, Inc. will post 12.79 EPS for the current fiscal year.

Old Dominion Freight Line Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.47%. The ex-dividend date was Tuesday, March 5th. Old Dominion Freight Line’s payout ratio is currently 18.47%.

Insiders Place Their Bets

In other Old Dominion Freight Line news, Director John D. Kasarda sold 15,944 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $221.08, for a total transaction of $3,524,819.80. Following the transaction, the director now directly owns 13,540 shares of the company’s stock, valued at approximately $2,993,355.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.40% of the stock is currently owned by insiders.

Institutional Trading of Old Dominion Freight Line

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Trust Co. of Vermont purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $29,000. Headinvest LLC purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at about $30,000. Finally, Sound Income Strategies LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter worth about $34,000. 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.