Old Dominion Freight Line (NASDAQ:ODFL) Raised to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a hold rating to a buy rating in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm currently has $200.00 target price on the transportation company’s stock, up from their prior target price of $193.00.

Several other research firms have also recently weighed in on ODFL. Morgan Stanley lifted their target price on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. JPMorgan Chase & Co. upped their target price 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. Bank of America decreased their price target on shares of Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Susquehanna restated a “neutral” rating and issued 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. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $203.72.

Old Dominion Freight Line Stock Performance

NASDAQ:ODFL opened at $181.97 on Monday. The firm has a market cap of $38.85 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $188.62 and a 200-day moving average of $197.74.

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

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Old Dominion Freight Line during the 4th quarter worth about $35,000. Itau Unibanco Holding S.A. lifted its holdings in Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 192 shares during the period. Synergy Asset Management LLC bought a new position in shares of Old Dominion Freight Line in the 4th quarter worth $41,000. RPg Family Wealth Advisory LLC bought a new position in Old Dominion Freight Line during the third quarter worth about $45,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in Old Dominion Freight Line during the 4th quarter worth approximately $51,000. Institutional investors own 77.82% of the company’s stock.

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.