Susquehanna Issues Pessimistic Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective reduced by Susquehanna from $210.00 to $171.00 in a report released on Monday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other analysts also recently weighed in on ODFL. Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, February 6th. Evercore ISI boosted their price objective on Old Dominion Freight Line from $199.00 to $202.00 and gave the company an “in-line” rating in a report on Thursday, February 6th. StockNews.com downgraded shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Jefferies Financial Group raised their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Morgan Stanley increased their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $199.70.

Old Dominion Freight Line Stock Up 1.8 %

NASDAQ ODFL opened at $170.10 on Monday. The company has a market cap of $36.15 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 2.89 and a beta of 1.10. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $181.30 and a 200-day moving average of $193.06. Old Dominion Freight Line has a 1-year low of $157.67 and a 1-year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, February 5th. The transportation company reported $1.23 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 research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is presently 18.98%.

Hedge Funds Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC bought a new position in shares of Old Dominion Freight Line in the fourth quarter worth approximately $35,000. Itau Unibanco Holding S.A. raised its holdings in shares of Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 192 shares in the last quarter. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the fourth quarter valued at approximately $41,000. Murphy & Mullick Capital Management Corp bought a new position in shares of Old Dominion Freight Line during the 4th quarter valued at $51,000. Finally, CoreCap Advisors LLC grew its position in Old Dominion Freight Line by 98.2% during the 4th quarter. CoreCap Advisors LLC now owns 339 shares of the transportation company’s stock worth $60,000 after acquiring an additional 168 shares during the last quarter. 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.