Weekly Analysts’ Ratings Updates for Old Dominion Freight Line (ODFL)

A number of firms have modified their ratings and price targets on shares of Old Dominion Freight Line (NASDAQ: ODFL) recently:

• 6/25/2024 – Old Dominion Freight Line had its “in-line” rating reaffirmed by analysts at Evercore ISI. They now have a $196.00 price target on the stock, down previously from $225.00.
• 6/24/2024 – Old Dominion Freight Line had its price target lowered by analysts at Raymond James from $215.00 to $190.00. They now have an “outperform” rating on the stock.
• 6/12/2024 – Old Dominion Freight Line had its price target lowered by analysts at Susquehanna from $245.00 to $210.00. They now have a “positive” rating on the stock.
• 6/12/2024 – Old Dominion Freight Line had its price target lowered by analysts at Barclays PLC from $205.00 to $195.00. They now have an “equal weight” rating on the stock.
• 6/7/2024 – Old Dominion Freight Line is now covered by analysts at Wells Fargo & Company. They set an “underweight” rating and a $175.00 price target on the stock.
• 6/6/2024 – Old Dominion Freight Line had its price target lowered by analysts at Bank of America Co. from $205.00 to $192.00. They now have a “neutral” rating on the stock.
• 6/5/2024 – Old Dominion Freight Line is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $210.00 price target on the stock.
• 5/8/2024 – Old Dominion Freight Line was upgraded by analysts at Baird R W from a “hold” rating to a “strong-buy” rating.
• 5/8/2024 – Old Dominion Freight Line was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $205.00 price target on the stock.

Old Dominion Freight Line Stock Performance

Shares of NASDAQ ODFL opened at $176.60 on Monday. The stock has a market cap of $38.37 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 2.30 and a beta of 1.02. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.01. Old Dominion Freight Line, Inc. has a 1-year low of $165.49 and a 1-year high of $227.80. The stock’s 50-day moving average is $179.13 and its 200 day moving average is $200.14.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.01. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. On average, sell-side analysts anticipate that Old Dominion Freight Line, Inc. will post 5.96 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

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

Hedge Funds Weigh In On Old Dominion Freight Line

Several hedge funds have recently made changes to their positions in ODFL. Vanguard Group Inc. boosted its position in shares of Old Dominion Freight Line by 100.9% during the first quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after purchasing an additional 10,944,520 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Old Dominion Freight Line by 117.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock valued at $3,010,435,000 after purchasing an additional 7,401,526 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Old Dominion Freight Line by 59.0% during the first quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock valued at $1,445,822,000 after purchasing an additional 2,447,121 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Old Dominion Freight Line by 94.6% in the first quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after acquiring an additional 2,888,205 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Old Dominion Freight Line by 11.0% in the third quarter. JPMorgan Chase & Co. now owns 2,538,487 shares of the transportation company’s stock worth $1,038,597,000 after acquiring an additional 251,289 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.