Old Dominion Freight Line (ODFL) Receives Buy Rating from Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a report released on Wednesday morning. They currently have a $117.00 target price on the transportation company’s stock, up from their prior target price of $111.00.

Other equities research analysts have also recently issued research reports about the stock. Credit Suisse Group reaffirmed an outperform rating and set a $119.00 price objective (up previously from $110.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 12th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Old Dominion Freight Line from a hold rating to a buy rating and set a $123.00 price objective for the company in a research report on Tuesday, October 3rd. KeyCorp reaffirmed a buy rating and set a $115.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, October 12th. Deutsche Bank cut shares of Old Dominion Freight Line from a hold rating to a sell rating and cut their price objective for the stock from $119.00 to $101.00 in a research report on Monday, December 4th. Finally, BidaskClub raised shares of Old Dominion Freight Line from a sell rating to a hold rating in a research report on Wednesday, August 16th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $112.46.

Old Dominion Freight Line (ODFL) traded down $0.89 during mid-day trading on Wednesday, hitting $128.11. 500,523 shares of the company traded hands, compared to its average volume of 481,360. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.44 and a quick ratio of 1.44. Old Dominion Freight Line has a fifty-two week low of $80.56 and a fifty-two week high of $131.39. The firm has a market capitalization of $10,632.26, a P/E ratio of 31.79, a PEG ratio of 1.80 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, October 26th. The transportation company reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.08. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The business had revenue of $872.99 million for the quarter, compared to the consensus estimate of $855.85 million. During the same period in the prior year, the company posted $1.03 earnings per share. Old Dominion Freight Line’s revenue was up 11.5% compared to the same quarter last year. equities research analysts anticipate that Old Dominion Freight Line will post 4.3 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.85%.

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Janus Henderson Group PLC bought a new position in Old Dominion Freight Line in the 2nd quarter valued at approximately $266,855,000. William Blair Investment Management LLC raised its holdings in Old Dominion Freight Line by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after buying an additional 191,911 shares during the last quarter. JPMorgan Chase & Co. increased its position in Old Dominion Freight Line by 8.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,092,478 shares of the transportation company’s stock valued at $227,557,000 after purchasing an additional 169,109 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Old Dominion Freight Line by 8.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,099,932 shares of the transportation company’s stock valued at $199,998,000 after purchasing an additional 157,362 shares during the period. Finally, Prudential Financial Inc. increased its position in Old Dominion Freight Line by 228.1% during the 2nd quarter. Prudential Financial Inc. now owns 159,872 shares of the transportation company’s stock valued at $15,226,000 after purchasing an additional 111,140 shares during the period. Institutional investors and hedge funds own 72.45% of the company’s stock.

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About Old Dominion Freight Line

Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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