Old Dominion Freight Line (NASDAQ:ODFL) Price Target Increased to $203.00 by Analysts at Bank of America

Old Dominion Freight Line (NASDAQ:ODFL) had its target price raised by Bank of America from $192.00 to $203.00 in a report released on Monday, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other equities analysts also recently weighed in on the company. TD Cowen dropped their price target on Old Dominion Freight Line from $209.00 to $206.00 and set a hold rating for the company in a research report on Friday, April 26th. Vertical Research raised Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 price target for the company in a research report on Monday, April 29th. Morgan Stanley dropped their price target on Old Dominion Freight Line from $174.00 to $168.00 and set an equal weight rating for the company in a research report on Monday, July 8th. Susquehanna lowered their price objective on Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating for the company in a research report on Wednesday, June 12th. Finally, UBS Group lifted their price objective on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a neutral rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of Hold and an average price target of $201.13.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $194.62 on Monday. The stock has a fifty day moving average price of $179.40 and a 200 day moving average price of $198.68. The stock has a market cap of $42.29 billion, a PE ratio of 34.26, a P/E/G ratio of 2.57 and a beta of 1.00. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.01. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. Sell-side analysts forecast that Old Dominion Freight Line will post 5.9 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its stake in shares of Old Dominion Freight Line by 22.5% during the fourth quarter. Jones Financial Companies Lllp now owns 147 shares of the transportation company’s stock worth $60,000 after purchasing an additional 27 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in shares of Old Dominion Freight Line by 1.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 2,704 shares of the transportation company’s stock worth $1,096,000 after purchasing an additional 30 shares in the last quarter. Drive Wealth Management LLC lifted its stake in shares of Old Dominion Freight Line by 5.3% during the fourth quarter. Drive Wealth Management LLC now owns 778 shares of the transportation company’s stock worth $316,000 after purchasing an additional 39 shares in the last quarter. Ballentine Partners LLC lifted its stake in shares of Old Dominion Freight Line by 5.5% in the fourth quarter. Ballentine Partners LLC now owns 772 shares of the transportation company’s stock worth $313,000 after acquiring an additional 40 shares in the last quarter. Finally, Freedom Day Solutions LLC lifted its stake in shares of Old Dominion Freight Line by 0.8% in the fourth quarter. Freedom Day Solutions LLC now owns 4,863 shares of the transportation company’s stock worth $1,971,000 after acquiring an additional 40 shares in 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, 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.