Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) PT at $203.33

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received an average rating of “Hold” from the twenty-one brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, fifteen have assigned a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $203.72.

Several equities research analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and boosted their price target for the stock from $193.00 to $200.00 in a research note on Monday. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Saturday, February 15th. Bank of America cut their target price on shares of 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. Finally, Citigroup raised their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $175.69 on Monday. The company’s 50 day simple moving average is $187.92 and its 200-day simple moving average is $197.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $233.26. The company has a market capitalization of $37.51 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, equities research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. State Street Corp lifted its position in Old Dominion Freight Line by 3.8% in the third quarter. State Street Corp now owns 7,633,531 shares of the transportation company’s stock valued at $1,516,324,000 after acquiring an additional 279,946 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Old Dominion Freight Line by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 4,927,383 shares of the transportation company’s stock worth $870,311,000 after purchasing an additional 96,410 shares in the last quarter. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at about $494,916,000. Capital World Investors lifted its holdings in shares of Old Dominion Freight Line by 1.1% in the 4th quarter. Capital World Investors now owns 2,510,101 shares of the transportation company’s stock valued at $442,784,000 after purchasing an additional 27,367 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Old Dominion Freight Line by 15.2% in the 4th quarter. Northern Trust Corp now owns 1,983,857 shares of the transportation company’s stock valued at $349,952,000 after purchasing an additional 261,305 shares during the period. Institutional investors and hedge funds own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.