Analysts Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) PT at $204.97

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned an average recommendation of “Hold” from the nineteen research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $204.97.

Several equities analysts have weighed in on the stock. Evercore ISI lowered their price objective on shares of Old Dominion Freight Line from $241.00 to $225.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. dropped their price target on Old Dominion Freight Line from $231.00 to $219.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Barclays decreased their price objective on Old Dominion Freight Line from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 12th. Susquehanna dropped their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a “positive” rating on the stock in a report on Wednesday, June 12th. Finally, UBS Group increased their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ODFL. PNC Financial Services Group Inc. grew its holdings in Old Dominion Freight Line by 0.6% in the third quarter. PNC Financial Services Group Inc. now owns 12,275 shares of the transportation company’s stock worth $5,022,000 after purchasing an additional 70 shares during the period. QRG Capital Management Inc. bought a new position in shares of Old Dominion Freight Line during the 3rd quarter worth about $750,000. Envestnet Asset Management Inc. grew its stake in shares of Old Dominion Freight Line by 24.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 167,843 shares of the transportation company’s stock valued at $68,671,000 after buying an additional 32,510 shares during the period. Aigen Investment Management LP bought a new stake in Old Dominion Freight Line in the 3rd quarter valued at about $243,000. Finally, CI Investments Inc. raised its stake in Old Dominion Freight Line by 67.3% during the 3rd quarter. CI Investments Inc. now owns 1,064 shares of the transportation company’s stock worth $435,000 after buying an additional 428 shares during the period. 77.82% of the stock is owned by institutional investors.

Old Dominion Freight Line Trading Up 0.1 %

Shares of NASDAQ:ODFL opened at $174.89 on Wednesday. The company has a 50 day moving average of $182.99 and a 200-day moving average of $200.49. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. The firm has a market cap of $38.00 billion, a P/E ratio of 30.79, a P/E/G ratio of 2.25 and a beta of 1.02. Old Dominion Freight Line has a twelve month low of $162.77 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.47 billion. As a group, analysts anticipate that Old Dominion Freight Line will post 5.98 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were given a $0.26 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.31%.

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.