Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $202.78 Average Price Target from Analysts

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received an average rating of “Hold” from the twenty ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $202.78.

A number of equities research analysts recently issued reports on the company. TD Cowen raised their price target on Old Dominion Freight Line from $206.00 to $214.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Vertical Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price objective on the stock in a report on Monday, April 29th. Baird R W upgraded Old Dominion Freight Line from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Raymond James raised their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Robert W. Baird raised their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Old Dominion Freight Line by 100.9% in the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after acquiring an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after purchasing an additional 7,401,526 shares in the last quarter. Capital Research Global Investors lifted its stake in Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after purchasing an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Old Dominion Freight Line by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 6,210,923 shares of the transportation company’s stock worth $1,096,849,000 after purchasing an additional 270,538 shares in the last quarter. Finally, Capital World Investors lifted its stake in Old Dominion Freight Line by 101.0% during the first quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after purchasing an additional 1,228,116 shares in the last quarter. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $193.00 on Thursday. The stock has a 50 day moving average of $186.54 and a 200 day moving average of $199.05. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80. The firm has a market cap of $41.94 billion, a PE ratio of 33.98, a PEG ratio of 3.92 and a beta of 1.00. The company has a current ratio of 1.46, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $1.33 EPS. Old Dominion Freight Line’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, research analysts expect 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 $0.26 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.54%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.31%.

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.