Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $185.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lifted by Truist Financial from $170.00 to $185.00 in a research report sent to investors on Thursday, MarketBeat reports. They currently have a buy rating on the transportation company’s stock.

Several other equities research analysts have also recently weighed in on ODFL. Zacks Research cut shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. Rothschild & Co Redburn assumed coverage on Old Dominion Freight Line in a report on Wednesday, November 26th. They set a “sell” rating and a $114.00 target price for the company. The Goldman Sachs Group cut their price target on Old Dominion Freight Line from $186.00 to $181.00 in a report on Thursday, October 30th. TD Cowen boosted their price target on Old Dominion Freight Line from $154.00 to $167.00 and gave the stock a “hold” rating in a research report on Friday, January 9th. Finally, Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Friday, January 9th. Ten investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $162.71.

Old Dominion Freight Line Price Performance

ODFL opened at $175.65 on Thursday. The company has a market capitalization of $36.73 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 8.73 and a beta of 1.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $209.61. The business’s fifty day simple moving average is $152.13 and its 200-day simple moving average is $149.99.

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 for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.41 billion. Old Dominion Freight Line had a net margin of 18.97% and a return on equity of 24.92%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 earnings per share. On average, equities research analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share 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. Investors of record on Wednesday, December 3rd were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is 22.54%.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC raised its position in shares of Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after purchasing an additional 79 shares during the last quarter. Empowered Funds LLC increased its stake in Old Dominion Freight Line by 134.9% during the 1st quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock valued at $1,690,000 after purchasing an additional 5,866 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Old Dominion Freight Line by 3.6% in the second quarter. Parallel Advisors LLC now owns 3,125 shares of the transportation company’s stock worth $507,000 after buying an additional 108 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Old Dominion Freight Line by 4.0% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,675 shares of the transportation company’s stock worth $434,000 after buying an additional 103 shares during the period. Finally, Czech National Bank grew its holdings in shares of Old Dominion Freight Line by 5.3% during the second quarter. Czech National Bank now owns 45,456 shares of the transportation company’s stock valued at $7,378,000 after buying an additional 2,304 shares during the last quarter. 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.