Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) PT at $195.15

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been given a consensus recommendation of “Hold” by the twenty-three ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $195.15.

Several analysts have recently issued reports on ODFL shares. Stifel Nicolaus dropped their target price on shares of Old Dominion Freight Line from $200.00 to $188.00 and set a “buy” rating on the stock in a research report on Monday. Stephens reiterated an “overweight” rating and set a $240.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Barclays reduced their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 price target on the stock. Finally, Morgan Stanley set a $185.00 price objective on Old Dominion Freight Line in a research note on Wednesday, April 2nd.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $153.75 on Tuesday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a 12-month low of $145.79 and a 12-month high of $233.26. The business’s 50 day moving average is $171.82 and its two-hundred day moving average is $189.29. The company has a market capitalization of $32.68 billion, a P/E ratio of 28.06, a P/E/G ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) 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 expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared 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 was Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.73%. Old Dominion Freight Line’s dividend payout ratio is currently 20.44%.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently bought and sold shares of the stock. Avanza Fonder AB acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at about $3,741,000. AustralianSuper Pty Ltd purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $128,221,000. Blueshift Asset Management LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $630,000. Board of the Pension Protection Fund acquired a new position in Old Dominion Freight Line during the fourth quarter worth $600,000. Finally, Reliant Investment Management LLC boosted its position in shares of Old Dominion Freight Line by 10.4% during the fourth quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after buying an additional 2,060 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.