Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $215.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price boosted by Robert W. Baird from $205.00 to $215.00 in a report published on Thursday, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the company. Susquehanna decreased their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating for the company in a research report on Wednesday, June 12th. Wells Fargo & Company assumed coverage on Old Dominion Freight Line in a research report on Friday, June 7th. They issued an underweight rating and a $175.00 target price for the company. TD Cowen decreased their target price on Old Dominion Freight Line from $209.00 to $206.00 and set a hold rating for the company in a research report on Friday, April 26th. Bank of America increased their price target on Old Dominion Freight Line from $192.00 to $203.00 and gave the company a neutral rating in a report on Monday, July 22nd. Finally, BMO Capital Markets initiated coverage on Old Dominion Freight Line in a report on Wednesday, June 5th. They issued an outperform rating and a $210.00 price target for the company. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $202.78.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $202.93 on Thursday. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $227.80. The business has a 50-day moving average of $180.27 and a 200-day moving average of $198.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.46 and a quick ratio of 2.29. The company has a market capitalization of $44.09 billion, a price-to-earnings ratio of 35.73, a PEG ratio of 3.89 and a beta of 1.00.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the business earned $1.33 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts anticipate that Old Dominion Freight Line will post 5.73 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently made changes to their positions in the stock. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth approximately $27,000. Farmers & Merchants Investments Inc. raised its position in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the period. Atwood & Palmer Inc. raised its position in shares of Old Dominion Freight Line by 3,700.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock worth $27,000 after purchasing an additional 148 shares during the period. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at approximately $29,000. Finally, Fortitude Family Office LLC increased its position in Old Dominion Freight Line by 103.0% in the 1st quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 68 shares during the period. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.