Old Dominion Freight Line (NASDAQ:ODFL) Upgraded at Baird R W

Baird R W upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL - Free Report) to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently issued reports on ODFL. Susquehanna reduced their price objective on shares of Old Dominion Freight Line from $168.00 to $160.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Morgan Stanley set a $185.00 target price on shares of Old Dominion Freight Line in a research note on Wednesday, April 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 for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Finally, Barclays cut their price objective on Old Dominion Freight Line from $185.00 to $170.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and a consensus price target of $174.55.

Old Dominion Freight Line Trading Up 0.7%

Shares of NASDAQ ODFL traded up $1.23 during trading hours on Tuesday, hitting $171.08. The company's stock had a trading volume of 1,369,300 shares, compared to its average volume of 1,652,565. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a market cap of $36.15 billion, a price-to-earnings ratio of 32.10, a P/E/G ratio of 3.50 and a beta of 1.25. Old Dominion Freight Line has a 12 month low of $144.90 and a 12 month high of $233.26. The business has a 50-day simple moving average of $161.51 and a 200-day simple moving average of $171.48.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.05. Old Dominion Freight Line had a return on equity of 27.40% and a net margin of 20.04%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter last year, the business posted $1.34 EPS. The business's revenue was down 5.8% on a year-over-year basis. On average, analysts anticipate that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend was Wednesday, June 4th. Old Dominion Freight Line's dividend payout ratio (DPR) is 21.01%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Evergreen Private Wealth LLC grew its holdings in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company's stock valued at $1,173,000 after buying an additional 59 shares during the last quarter. Lido Advisors LLC lifted its position in Old Dominion Freight Line by 3.2% in the 4th quarter. Lido Advisors LLC now owns 1,929 shares of the transportation company's stock valued at $340,000 after acquiring an additional 59 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Old Dominion Freight Line by 5.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,169 shares of the transportation company's stock valued at $206,000 after purchasing an additional 61 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Old Dominion Freight Line by 1.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 4,531 shares of the transportation company's stock worth $799,000 after purchasing an additional 63 shares in the last quarter. Finally, Norden Group LLC raised its stake in shares of Old Dominion Freight Line by 4.9% in the fourth quarter. Norden Group LLC now owns 1,416 shares of the transportation company's stock worth $250,000 after purchasing an additional 66 shares during the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.