Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $202.65 Average PT from Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has received a consensus recommendation of “Hold” from the twenty-three brokerages that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $201.40.

A number of equities research analysts have recently issued reports on ODFL shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Old Dominion Freight Line in a research note on Friday, March 7th. They issued a “buy” rating and a $236.00 target price on the stock. Susquehanna restated 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. Truist Financial initiated coverage on Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price for the company. Bank of America dropped their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group lifted their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th.

Institutional Investors Weigh In On Old Dominion Freight Line

Several institutional investors have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. bought a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $271,000. Empowered Funds LLC increased its stake in shares of Old Dominion Freight Line by 6.0% during the third quarter. Empowered Funds LLC now owns 3,543 shares of the transportation company’s stock valued at $704,000 after acquiring an additional 199 shares during the period. Mutual of America Capital Management LLC raised its holdings in Old Dominion Freight Line by 2.9% during the third quarter. Mutual of America Capital Management LLC now owns 26,182 shares of the transportation company’s stock worth $5,201,000 after purchasing an additional 747 shares in the last quarter. Caprock Group LLC lifted its position in Old Dominion Freight Line by 9.7% in the third quarter. Caprock Group LLC now owns 8,956 shares of the transportation company’s stock worth $1,779,000 after purchasing an additional 794 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Old Dominion Freight Line by 11.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 25,718 shares of the transportation company’s stock valued at $5,109,000 after purchasing an additional 2,656 shares in the last quarter. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $170.23 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line has a fifty-two week low of $157.67 and a fifty-two week high of $233.26. The business has a 50 day moving average price of $183.12 and a two-hundred day moving average price of $193.71. The firm has a market cap of $36.18 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 2.89 and a beta of 1.10.

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, topping 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%. Sell-side analysts expect that Old Dominion Freight Line will post 5.68 earnings per share 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 paid a $0.28 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

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.