Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $202.65 Consensus Target Price from Analysts

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been assigned an average recommendation of “Hold” from the twenty-three research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, fifteen have given a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $201.40.

Several research firms have recently commented on ODFL. Stephens reiterated an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. JPMorgan Chase & Co. raised their price target on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Jefferies Financial Group upped their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, January 10th. Susquehanna reaffirmed a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. Finally, Bank of America cut their target price on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th.

Old Dominion Freight Line Stock Up 0.9 %

Old Dominion Freight Line stock opened at $170.23 on Friday. Old Dominion Freight Line has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The firm has a market capitalization of $36.18 billion, a price-to-earnings ratio of 31.06, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10. The stock’s fifty day moving average is $183.12 and its two-hundred day moving average is $193.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is presently 18.98%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. SevenBridge Financial Group LLC increased its position in shares of Old Dominion Freight Line by 2.0% in the third quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after acquiring an additional 50 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after purchasing an additional 55 shares in the last quarter. Hantz Financial Services Inc. raised its position in Old Dominion Freight Line by 3.6% in the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after purchasing an additional 55 shares during the period. D.A. Davidson & CO. lifted its stake in shares of Old Dominion Freight Line by 1.9% during the fourth quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after purchasing an additional 55 shares in the last quarter. Finally, Evergreen Private Wealth LLC boosted its position in shares of Old Dominion Freight Line by 0.9% in the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after buying an additional 59 shares during the period. 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.