Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) PT at $185.46

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have earned an average recommendation of “Hold” from the twenty-six brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $189.8750.

A number of brokerages have recently commented on ODFL. Deutsche Bank Aktiengesellschaft cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $205.00 price target for the company. in a research note on Thursday, February 5th. Truist Financial set a $225.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, February 5th. Morgan Stanley restated an “overweight” rating and issued a $209.00 price objective (up previously from $190.00) on shares of Old Dominion Freight Line in a research report on Wednesday, February 4th. BMO Capital Markets upgraded Old Dominion Freight Line from a “market perform” rating to an “outperform” rating and reduced their target price for the stock from $172.00 to $170.00 in a report on Monday, December 1st. Finally, Wall Street Zen upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Sunday, January 25th.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $193.21 on Monday. The firm’s 50 day moving average price is $171.16 and its two-hundred day moving average price is $152.69. Old Dominion Freight Line has a 52-week low of $126.01 and a 52-week high of $209.61. The stock has a market cap of $40.40 billion, a PE ratio of 40.00, a PEG ratio of 9.26 and a beta of 1.28.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Wednesday, February 4th. The transportation company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.03. The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.30 billion. Old Dominion Freight Line had a return on equity of 24.03% and a net margin of 18.62%.The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 EPS. As a group, 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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be issued a dividend of $0.29 per share. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, March 4th. This represents a $1.16 annualized dividend and a yield of 0.6%. Old Dominion Freight Line’s dividend payout ratio is 24.02%.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently made changes to their positions in ODFL. Jacobi Capital Management LLC boosted its stake in Old Dominion Freight Line by 3.3% in the 4th quarter. Jacobi Capital Management LLC now owns 3,188 shares of the transportation company’s stock worth $500,000 after purchasing an additional 102 shares during the period. CreativeOne Wealth LLC boosted its position in shares of Old Dominion Freight Line by 26.4% during the fourth quarter. CreativeOne Wealth LLC now owns 9,683 shares of the transportation company’s stock worth $1,518,000 after buying an additional 2,025 shares during the period. Marshall Wace LLP grew its holdings in shares of Old Dominion Freight Line by 7,021.5% during the fourth quarter. Marshall Wace LLP now owns 361,845 shares of the transportation company’s stock worth $56,737,000 after buying an additional 356,764 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Old Dominion Freight Line by 56.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 323,288 shares of the transportation company’s stock worth $50,803,000 after buying an additional 116,379 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in Old Dominion Freight Line by 582.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 10,646 shares of the transportation company’s stock valued at $1,669,000 after buying an additional 9,086 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.