Old Dominion Freight Line (NASDAQ:ODFL) Upgraded 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 note issued to investors on Saturday.

Other equities analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Wells Fargo & Company dropped their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 7th. Barclays dropped their price target on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley boosted their price target on Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Finally, Bank of America dropped their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seventeen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Old Dominion Freight Line has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $206.34 on Friday. The company has a market capitalization of $44.05 billion, a PE ratio of 37.65, a P/E/G ratio of 5.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a 50-day simple moving average of $189.35 and a two-hundred day simple moving average of $197.82. Old Dominion Freight Line has a one year low of $165.49 and a one year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates 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%. Research analysts expect that Old Dominion Freight Line will post 5.69 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.54%. The ex-dividend date is Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is currently 18.98%.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds have recently bought and sold shares of ODFL. Avanza Fonder AB acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $3,741,000. Toronto Dominion Bank raised its stake in shares of Old Dominion Freight Line by 77.7% during the 3rd quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after buying an additional 42,880 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $600,000. Sequoia Financial Advisors LLC raised its stake in shares of Old Dominion Freight Line by 20.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 5,979 shares of the transportation company’s stock worth $1,188,000 after buying an additional 1,017 shares during the period. Finally, Reliant Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 10.4% during the 4th quarter. Reliant Investment Management LLC now owns 21,850 shares of the transportation company’s stock worth $3,854,000 after buying an additional 2,060 shares during the period. Hedge funds and other institutional investors 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.