Old Dominion Freight Line (NASDAQ:ODFL) Price Target Increased to $233.00 by Analysts at Raymond James

Old Dominion Freight Line (NASDAQ:ODFL) had its target price upped by Raymond James from $207.50 to $233.00 in a report published on Monday morning, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Several other analysts have also commented on the company. Bank of America reaffirmed a neutral rating and issued a $223.00 price objective (up previously from $221.50) on shares of Old Dominion Freight Line in a report on Wednesday, March 6th. JPMorgan Chase & Co. cut their price objective on Old Dominion Freight Line from $233.00 to $231.00 and set a neutral rating for the company in a report on Tuesday, April 9th. Barclays cut their price target on Old Dominion Freight Line to $210.00 and set an equal weight rating for the company in a report on Thursday, April 4th. Stifel Nicolaus boosted their price target on Old Dominion Freight Line from $208.00 to $217.00 and gave the company a buy rating in a report on Wednesday, January 10th. Finally, Susquehanna boosted their price target on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a positive rating in a report on Thursday, February 8th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $214.19.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $210.81 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10. Old Dominion Freight Line has a one year low of $147.90 and a one year high of $227.80. The firm has a market capitalization of $45.89 billion, a P/E ratio of 37.44, a PEG ratio of 3.16 and a beta of 1.02. The business has a fifty day moving average of $221.68 and a 200 day moving average of $206.44.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.43 by $0.04. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the company posted $1.46 earnings per share. Old Dominion Freight Line’s revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Old Dominion Freight Line will post 6.35 EPS for the current year.

Old Dominion Freight Line Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.04 annualized dividend and a dividend yield of 0.49%. Old Dominion Freight Line’s payout ratio is 18.47%.

Insider Activity

In other news, Director John D. Kasarda sold 15,944 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $221.08, for a total value of $3,524,819.80. Following the transaction, the director now directly owns 13,540 shares in the company, valued at $2,993,355.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Old Dominion Freight Line by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,860,421 shares of the transportation company’s stock valued at $3,243,791,000 after purchasing an additional 113,806 shares during the period. Price T Rowe Associates Inc. MD raised its position in Old Dominion Freight Line by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,325,321 shares of the transportation company’s stock valued at $2,563,843,000 after purchasing an additional 81,122 shares during the period. JPMorgan Chase & Co. raised its position in Old Dominion Freight Line by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock valued at $1,038,597,000 after purchasing an additional 251,289 shares during the period. Geode Capital Management LLC raised its position in Old Dominion Freight Line by 1.2% during the first quarter. Geode Capital Management LLC now owns 2,195,626 shares of the transportation company’s stock valued at $747,791,000 after purchasing an additional 26,051 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in Old Dominion Freight Line by 0.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,101,919 shares of the transportation company’s stock valued at $851,971,000 after purchasing an additional 12,016 shares during the period. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.