Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $180.42 Average Price Target from Brokerages

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL - Get Free Report) have been given a consensus rating of "Hold" by the twenty-one ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $180.42.

A number of research firms have recently commented on ODFL. UBS Group dropped their price target on shares of Old Dominion Freight Line from $196.00 to $158.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $190.00 to $200.00 in a research note on Monday, June 2nd. JPMorgan Chase & Co. decreased their price target on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Jefferies Financial Group dropped their price objective on shares of Old Dominion Freight Line from $195.00 to $165.00 and set a "hold" rating for the company in a report on Wednesday, April 9th. Finally, Stephens reaffirmed an "overweight" rating and issued a $180.00 price target (down from $200.00) on shares of Old Dominion Freight Line in a report on Thursday, April 24th.

Institutional Trading of Old Dominion Freight Line

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Old Dominion Freight Line by 1.9% in the first quarter. Vanguard Group Inc. now owns 22,666,405 shares of the transportation company's stock valued at $3,750,157,000 after buying an additional 416,097 shares during the period. Geode Capital Management LLC grew its position in 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 buying an additional 96,410 shares in the last quarter. Invesco Ltd. grew its position in Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company's stock worth $706,841,000 after buying an additional 53,079 shares in the last quarter. Norges Bank purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $494,916,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company's stock worth $430,006,000 after purchasing an additional 1,151,221 shares in the last quarter. Institutional investors own 77.82% of the company's stock.

Old Dominion Freight Line Stock Performance

ODFL traded up $0.65 during trading hours on Wednesday, hitting $160.33. The company's stock had a trading volume of 1,232,644 shares, compared to its average volume of 1,640,657. The firm has a market capitalization of $33.88 billion, a PE ratio of 29.26, a PEG ratio of 2.89 and a beta of 1.26. The company has a 50-day simple moving average of $158.79 and a 200 day simple moving average of $178.20. Old Dominion Freight Line has a fifty-two week low of $144.90 and a fifty-two week 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.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.38 billion. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Old Dominion Freight Line's revenue was down 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.34 EPS. As a group, sell-side analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.12 annualized dividend and a dividend yield of 0.70%. Old Dominion Freight Line's payout ratio is 21.01%.

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.