Old Dominion Freight Line (NASDAQ:ODFL) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a sell rating to a hold rating in a research report released on Saturday morning.

Other equities research analysts have also recently issued research reports about the stock. Barclays reduced their price objective on shares of Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Robert W. Baird cut their target price on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. The Goldman Sachs Group raised their target price on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Citigroup raised their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group raised their target price on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Trading Down 0.0 %

Old Dominion Freight Line stock opened at $206.34 on Friday. The stock has a market cap of $44.05 billion, a P/E ratio of 37.65, a PEG ratio of 5.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The firm’s 50 day moving average price is $189.35 and its 200-day moving average price is $197.82.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, equities analysts predict that Old Dominion Freight Line will post 5.69 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.54%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Institutional Trading of Old Dominion Freight Line

Several institutional investors and hedge funds have recently made changes to their positions in ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $494,916,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Old Dominion Freight Line by 1,575.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,447,784 shares of the transportation company’s stock valued at $255,390,000 after acquiring an additional 1,361,397 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Old Dominion Freight Line by 109.5% in the third quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after acquiring an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at about $128,221,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Old Dominion Freight Line by 19,764.0% in the third quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock valued at $136,130,000 after acquiring an additional 681,858 shares in the last quarter. 77.82% of the stock is currently owned by 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.