Stifel Nicolaus Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $162.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price lowered by Stifel Nicolaus from $168.00 to $162.00 in a report published on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the transportation company’s stock.

ODFL has been the topic of a number of other research reports. TD Cowen lowered their price objective on Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating on the stock in a research report on Thursday, July 31st. Truist Financial raised their price target on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 30th. Robert W. Baird set a $148.00 price target on Old Dominion Freight Line and gave the company a “neutral” rating in a report on Monday, August 4th. JPMorgan Chase & Co. lowered their price target on Old Dominion Freight Line from $155.00 to $143.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Old Dominion Freight Line in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $159.81.

Old Dominion Freight Line Trading Up 0.8%

Shares of Old Dominion Freight Line stock opened at $137.25 on Tuesday. Old Dominion Freight Line has a 12-month low of $133.69 and a 12-month high of $233.26. The company has a market cap of $28.85 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 3.22 and a beta of 1.19. The company has a current ratio of 1.20, a quick ratio of 1.38 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $143.24 and its 200-day moving average price is $153.59.

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

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 21.88%.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of hedge funds have recently modified their holdings of the company. Larson Financial Group LLC increased its holdings in Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock valued at $25,000 after purchasing an additional 108 shares during the period. Financial Gravity Companies Inc. purchased a new position in shares of Old Dominion Freight Line during the second quarter valued at approximately $26,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Old Dominion Freight Line by 175.7% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after buying an additional 123 shares during the period. Rossby Financial LCC purchased a new position in shares of Old Dominion Freight Line during the second quarter valued at approximately $28,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Old Dominion Freight Line during the first quarter valued at approximately $39,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.