Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $180.00 at Raymond James Financial

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lifted by Raymond James Financial from $155.00 to $180.00 in a report released on Monday,MarketScreener reports. They currently have an outperform rating on the transportation company’s stock.

Several other equities analysts also recently issued reports on ODFL. Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research note on Friday, January 9th. Robert W. Baird set a $170.00 price objective on Old Dominion Freight Line in a report on Monday, January 5th. Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft reduced their price target on Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Finally, Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Ten research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $162.71.

Old Dominion Freight Line Trading Up 2.7%

Old Dominion Freight Line stock traded up $4.69 during trading hours on Monday, hitting $178.21. The stock had a trading volume of 2,101,058 shares, compared to its average volume of 1,878,266. The stock has a market cap of $37.26 billion, a price-to-earnings ratio of 35.86, a P/E/G ratio of 8.43 and a beta of 1.27. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The business’s 50 day simple moving average is $150.60 and its 200-day simple moving average is $149.83. Old Dominion Freight Line has a one year low of $126.01 and a one year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 earnings per share. On average, equities analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 22.54%.

Institutional Trading of Old Dominion Freight Line

Large investors have recently modified their holdings of the stock. Financial Gravity Companies Inc. acquired a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $26,000. Rossby Financial LCC bought a new stake in Old Dominion Freight Line in the second quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of 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 valued at $27,000 after purchasing an additional 123 shares during the period. Westside Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock worth $27,000 after purchasing an additional 98 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of Old Dominion Freight Line during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.