Old Dominion Freight Line (NASDAQ:ODFL) Given New $160.00 Price Target at Wells Fargo & Company

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by Wells Fargo & Company from $185.00 to $160.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has an underweight rating on the transportation company’s stock.

A number of other research firms also recently issued reports on ODFL. Truist Financial started coverage on shares of Old Dominion Freight Line in a research note on Thursday, March 13th. They set a “buy” rating and a $220.00 price objective on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They set a “buy” rating and a $236.00 target price on the stock. Bank of America reduced their price target on Old Dominion Freight Line from $237.00 to $204.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Citigroup dropped their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, The Goldman Sachs Group increased their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus price target of $201.40.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $164.85 on Thursday. Old Dominion Freight Line has a twelve month low of $157.67 and a twelve month high of $233.26. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $182.63 and a two-hundred day simple moving average of $193.55. The stock has a market capitalization of $35.04 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 2.89 and a beta of 1.10.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. On average, analysts predict that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.68%. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of large investors have recently bought and sold shares of ODFL. Cerity Partners LLC grew its position in Old Dominion Freight Line by 64.1% during the 3rd quarter. Cerity Partners LLC now owns 32,110 shares of the transportation company’s stock worth $6,378,000 after purchasing an additional 12,537 shares during the period. Brown Brothers Harriman & Co. boosted its stake in shares of Old Dominion Freight Line by 398.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock worth $53,000 after acquiring an additional 215 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Old Dominion Freight Line by 0.4% during the 3rd quarter. Bank of Montreal Can now owns 296,448 shares of the transportation company’s stock worth $58,314,000 after acquiring an additional 1,178 shares in the last quarter. Avestar Capital LLC acquired a new stake in shares of Old Dominion Freight Line during the 3rd quarter valued at about $223,000. Finally, Baldwin Investment Management LLC purchased a new position in shares of Old Dominion Freight Line in the 3rd quarter valued at about $212,000. Hedge funds and other institutional investors 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.