Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $202.65 Consensus Target Price from Brokerages

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned a consensus rating of “Hold” from the twenty-three ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $202.65.

Several brokerages have recently weighed in on ODFL. Barclays decreased their price target on Old Dominion Freight Line from $210.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Old Dominion Freight Line in a research report on Friday, March 7th. They issued a “buy” rating and a $236.00 price objective on the stock. Jefferies Financial Group upped their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday, January 10th. Stephens restated an “overweight” rating and issued a $240.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. Finally, Truist Financial started coverage on shares of Old Dominion Freight Line in a research report on Thursday, March 13th. They issued a “buy” rating and a $220.00 price objective on the stock.

Old Dominion Freight Line Trading Up 2.5 %

Shares of ODFL opened at $165.22 on Friday. The business’s 50-day moving average price is $184.41 and its 200-day moving average price is $194.29. Old Dominion Freight Line has a twelve month low of $157.67 and a twelve month high of $233.26. The stock has a market cap of $35.12 billion, a PE ratio of 30.15, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate 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%. On average, equities analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was 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 18.98%.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. 111 Capital bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $380,000. Cim LLC raised its holdings in shares of Old Dominion Freight Line by 2.6% during the fourth quarter. Cim LLC now owns 7,056 shares of the transportation company’s stock valued at $1,245,000 after acquiring an additional 182 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $39,633,000. Jefferies Financial Group Inc. bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $1,127,000. Finally, Challenger Wealth Management bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $233,000. 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.