Brokerages Set Old Dominion Freight Line, Inc. (NASDAQ:ODFL) Price Target at $226.55

Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have been assigned an average rating of “Hold” from the twenty-five research firms that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $226.5455.

A number of analysts recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and issued a $245.00 target price (up from $235.00) on shares of Old Dominion Freight Line in a research report on Monday, July 6th. Evercore reiterated an “outperform” rating and issued a $243.00 price objective on shares of Old Dominion Freight Line in a research note on Thursday, July 30th. Rothschild & Co Redburn decreased their price objective on Old Dominion Freight Line from $176.00 to $172.00 and set a “sell” rating for the company in a report on Tuesday, May 12th. TD Cowen restated a “hold” rating on shares of Old Dominion Freight Line in a research report on Wednesday, June 3rd. Finally, Citigroup reaffirmed a “neutral” rating and issued a $231.00 target price (up from $228.00) on shares of Old Dominion Freight Line in a report on Thursday, July 30th.

Old Dominion Freight Line Price Performance

NASDAQ ODFL opened at $216.36 on Monday. The firm’s fifty day moving average price is $226.40 and its 200 day moving average price is $207.98. The company has a market capitalization of $45.00 billion, a price-to-earnings ratio of 41.69, a price-to-earnings-growth ratio of 3.67 and a beta of 1.18. Old Dominion Freight Line has a 12 month low of $126.01 and a 12 month high of $252.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings results on Wednesday, July 29th. The transportation company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.14. Old Dominion Freight Line had a net margin of 19.44% and a return on equity of 24.87%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the previous year, the company earned $1.27 earnings per share. Old Dominion Freight Line’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Old Dominion Freight Line will post 5.78 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 2nd. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 22.35%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bell Investment Advisors Inc acquired a new position in shares of Old Dominion Freight Line during the second quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Old Dominion Freight Line by 80.5% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 139 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Evolution Wealth Management Inc. purchased a new position in Old Dominion Freight Line during the 1st quarter valued at about $29,000. Reflection Asset Management purchased a new position in shares of Old Dominion Freight Line during the 4th quarter worth approximately $28,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of Old Dominion Freight Line in the first quarter worth $39,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

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.