Analysts Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Price Target at $226.55

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received an average rating of “Hold” from the twenty-five ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $226.5455.

A number of brokerages recently commented on ODFL. TD Cowen reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Evercore reissued an “outperform” rating and issued a $243.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, July 30th. Argus upped their price objective on Old Dominion Freight Line from $220.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, June 18th. Stephens restated an “overweight” rating and issued a $240.00 price objective (up from $232.00) on shares of Old Dominion Freight Line in a research note on Thursday, April 30th. Finally, Benchmark reaffirmed a “hold” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 4th.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $216.36 on Monday. The firm has a market capitalization of $45.00 billion, a P/E ratio of 41.69, a price-to-earnings-growth ratio of 3.76 and a beta of 1.18. The firm’s fifty day moving average price is $226.40 and its two-hundred day moving average price is $208.21. Old Dominion Freight Line has a 1 year low of $126.01 and a 1 year high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, July 29th. The transportation company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a return on equity of 24.87% and a net margin of 19.44%.The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the company earned $1.27 EPS. The company’s revenue was up 10.4% on a year-over-year basis. On average, research analysts anticipate that Old Dominion Freight Line will post 5.78 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s payout ratio is 22.35%.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Old Dominion Freight Line by 5.3% in the 4th quarter. Brighton Jones LLC now owns 1,559 shares of the transportation company’s stock valued at $275,000 after acquiring an additional 79 shares during the period. Empowered Funds LLC increased its stake in shares of Old Dominion Freight Line by 134.9% in the first quarter. Empowered Funds LLC now owns 10,213 shares of the transportation company’s stock worth $1,690,000 after purchasing an additional 5,866 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $7,478,000. Jump Financial LLC bought a new stake in shares of Old Dominion Freight Line in the second quarter valued at approximately $2,891,000. Finally, AXA S.A. lifted its stake in shares of Old Dominion Freight Line by 1.2% during the 2nd quarter. AXA S.A. now owns 20,253 shares of the transportation company’s stock valued at $3,287,000 after buying an additional 238 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

Old Dominion Freight Line Company Profile

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.