Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Receives $160.79 Average Target Price from Analysts

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned an average recommendation of “Hold” from the twenty-eight brokerages that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $162.7083.

ODFL has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on shares of Old Dominion Freight Line from $142.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft decreased their target price on Old Dominion Freight Line from $180.00 to $167.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Stephens reaffirmed an “overweight” rating and set a $190.00 price target on shares of Old Dominion Freight Line in a research report on Tuesday, January 6th. The Goldman Sachs Group increased their price target on Old Dominion Freight Line from $181.00 to $182.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Zacks Research downgraded shares of Old Dominion Freight Line from a “hold” rating to a “strong sell” rating in a report on Thursday, January 8th.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Old Dominion Freight Line by 2.2% in the third quarter. Vanguard Group Inc. now owns 23,252,921 shares of the transportation company’s stock valued at $3,273,546,000 after purchasing an additional 494,674 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Old Dominion Freight Line by 21.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,366,843 shares of the transportation company’s stock valued at $614,764,000 after buying an additional 776,004 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Old Dominion Freight Line by 21.3% during the third quarter. JPMorgan Chase & Co. now owns 3,544,588 shares of the transportation company’s stock valued at $499,007,000 after buying an additional 622,275 shares during the period. Norges Bank purchased a new stake in shares of Old Dominion Freight Line in the second quarter worth about $371,961,000. Finally, Boston Partners bought a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $292,599,000. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Stock Down 1.4%

ODFL stock opened at $175.65 on Thursday. The stock has a market cap of $36.73 billion, a P/E ratio of 35.34, a P/E/G ratio of 8.73 and a beta of 1.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock’s fifty day simple moving average is $152.13 and its two-hundred day simple moving average is $149.99. Old Dominion Freight Line has a 1-year low of $126.01 and a 1-year high of $209.61.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. Analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 22.54%.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.