The Goldman Sachs Group upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL - Free Report) from a neutral rating to a buy rating in a report issued on Monday, MarketBeat.com reports. They currently have $200.00 target price on the transportation company's stock, up from their previous target price of $190.00.
Several other equities analysts have also recently weighed in on ODFL. Stifel Nicolaus cut their target price on shares of Old Dominion Freight Line from $188.00 to $175.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Wall Street Zen raised Old Dominion Freight Line from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Raymond James set a $185.00 price target on Old Dominion Freight Line and gave the company an "outperform" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $174.00 to $158.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company set a $150.00 target price on shares of Old Dominion Freight Line and gave the company an "underweight" rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $180.42.
Get Our Latest Stock Analysis on ODFL
Old Dominion Freight Line Stock Performance
Shares of ODFL stock traded down $0.46 during trading hours on Monday, reaching $161.03. The company had a trading volume of 812,267 shares, compared to its average volume of 1,644,248. Old Dominion Freight Line has a one year low of $144.90 and a one year high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The business has a fifty day moving average price of $159.04 and a 200-day moving average price of $178.93. The firm has a market cap of $34.03 billion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 2.89 and a beta of 1.31.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. The company 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 for the quarter was down 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.34 EPS. Sell-side analysts predict that Old Dominion Freight Line will post 5.68 earnings per share for the current fiscal year.
Old Dominion Freight Line Dividend Announcement
The firm 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 is Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.70%. Old Dominion Freight Line's dividend payout ratio is presently 21.01%.
Institutional Investors Weigh In On Old Dominion Freight Line
Hedge funds have recently modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Old Dominion Freight Line by 234.8% in the first quarter. Larson Financial Group LLC now owns 154 shares of the transportation company's stock worth $25,000 after acquiring an additional 108 shares during the last quarter. American National Bank & Trust acquired a new stake in Old Dominion Freight Line in the 1st quarter valued at about $30,000. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line in the 4th quarter worth approximately $35,000. Wayfinding Financial LLC acquired a new position in shares of Old Dominion Freight Line during the 1st quarter worth approximately $39,000. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Old Dominion Freight Line in the first quarter valued at approximately $39,000. 77.82% of the stock is owned by hedge funds and other institutional investors.
About Old Dominion Freight Line
(
Get Free Report)
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.
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