Old Dominion Freight Line’s (ODFL) “Overweight” Rating Reaffirmed at Stephens

Stephens reissued their overweight rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report report published on Thursday,Benzinga reports. The firm currently has a $240.00 price target on the transportation company’s stock.

A number of other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Robert W. Baird decreased their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Citigroup upped their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Stifel Nicolaus raised their target price on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets dropped their price target on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Stock Up 1.2 %

Old Dominion Freight Line stock opened at $195.88 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market cap of $41.82 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The firm’s 50-day simple moving average is $190.65 and its 200 day simple moving average is $197.69.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Research analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.28 per share. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.57%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of institutional investors have recently added to or reduced their stakes in ODFL. State Street Corp grew its holdings in shares of Old Dominion Freight Line by 3.8% during the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock worth $1,516,324,000 after purchasing an additional 279,946 shares in the last quarter. Geode Capital Management LLC grew its stake in Old Dominion Freight Line by 6.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,830,973 shares of the transportation company’s stock worth $959,005,000 after buying an additional 275,236 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Old Dominion Freight Line by 109.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock worth $285,094,000 after buying an additional 750,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Old Dominion Freight Line by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,329,826 shares of the transportation company’s stock valued at $264,157,000 after buying an additional 57,301 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Old Dominion Freight Line by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,250,236 shares of the transportation company’s stock valued at $220,542,000 after buying an additional 46,570 shares in the last quarter. 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.