Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $185.46 Average Price Target from Brokerages

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has been assigned an average recommendation of “Hold” from the twenty-five ratings firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $188.5652.

Several analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Old Dominion Freight Line from $167.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Bank of America set a $165.00 target price on Old Dominion Freight Line in a research note on Thursday, December 18th. BMO Capital Markets raised Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and dropped their target price for the stock from $172.00 to $170.00 in a research report on Monday, December 1st. Citigroup reissued a “neutral” rating and issued a $216.00 price target (up previously from $196.00) on shares of Old Dominion Freight Line in a report on Friday, February 6th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $202.00 target price (up from $164.00) on shares of Old Dominion Freight Line in a research report on Thursday, February 5th.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ:ODFL opened at $194.46 on Monday. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $209.61. The stock has a 50-day simple moving average of $169.76 and a 200-day simple moving average of $152.25. The stock has a market capitalization of $40.66 billion, a P/E ratio of 40.26, a PEG ratio of 9.71 and a beta of 1.28.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. Old Dominion Freight Line had a net margin of 18.62% and a return on equity of 24.03%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.23 EPS. Analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be issued a $0.29 dividend. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, March 4th. Old Dominion Freight Line’s dividend payout ratio is currently 23.19%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Financial Gravity Companies Inc. bought a new position in shares of Old Dominion Freight Line during the second quarter worth about $26,000. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line during the second quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. raised its stake in Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock worth $27,000 after acquiring an additional 123 shares during the period. Westside Investment Management Inc. lifted its holdings in Old Dominion Freight Line by 100.0% in the third quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after acquiring an additional 98 shares during the last quarter. Finally, DT Investment Partners LLC grew its holdings in shares of Old Dominion Freight Line by 600.0% during the fourth quarter. DT Investment Partners LLC now owns 210 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 180 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.