Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $214.00 at TD Cowen

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lifted by TD Cowen from $206.00 to $214.00 in a research report released on Thursday, Benzinga reports. They currently have a hold rating on the transportation company’s stock.

A number of other research firms have also recently weighed in on ODFL. BMO Capital Markets increased their price target on Old Dominion Freight Line from $210.00 to $215.00 and gave the company an outperform rating in a research note on Thursday. Baird R W upgraded Old Dominion Freight Line from a hold rating to a strong-buy rating in a research note on Wednesday, May 8th. Raymond James upped their price objective on Old Dominion Freight Line from $190.00 to $209.00 and gave the company an outperform rating in a report on Thursday. Evercore ISI reaffirmed an in-line rating and issued a $196.00 price objective (down from $225.00) on shares of Old Dominion Freight Line in a report on Tuesday, June 25th. Finally, Wells Fargo & Company began coverage on Old Dominion Freight Line in a report on Friday, June 7th. They issued an underweight rating and a $175.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $201.97.

Old Dominion Freight Line Trading Up 5.7 %

NASDAQ ODFL opened at $205.70 on Thursday. The stock has a market capitalization of $44.70 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 2.58 and a beta of 1.00. The stock’s 50 day moving average price is $179.87 and its two-hundred day moving average price is $198.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the prior year, the business posted $1.33 EPS. The business’s revenue was up 6.1% compared to the same quarter last year. As a group, analysts anticipate that Old Dominion Freight Line will post 5.85 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, September 18th. Shareholders of record on Wednesday, September 4th will be given a $0.26 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.04 annualized dividend and a yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio is presently 18.31%.

Hedge Funds Weigh In On Old Dominion Freight Line

Large investors have recently bought and sold shares of the company. Trust Co. of Vermont bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $27,000. Farmers & Merchants Investments Inc. raised its position in Old Dominion Freight Line by 100.0% in the first quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 62 shares during the last quarter. Atwood & Palmer Inc. raised its position in Old Dominion Freight Line by 3,700.0% in the second quarter. Atwood & Palmer Inc. now owns 152 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 148 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in Old Dominion Freight Line in the fourth quarter valued at about $29,000. Finally, Fortitude Family Office LLC raised its position in Old Dominion Freight Line by 103.0% in the first quarter. Fortitude Family Office LLC now owns 134 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 68 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors.

About Old Dominion Freight Line

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.