Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $193.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price hoisted by JPMorgan Chase & Co. from $176.00 to $193.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

A number of other brokerages have also commented on ODFL. Barclays cut their price target on Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating on the stock in a report on Wednesday, June 12th. Bank of America lifted their price objective on shares of Old Dominion Freight Line from $192.00 to $203.00 and gave the company a neutral rating in a report on Monday, July 22nd. Vertical Research upgraded shares of Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 target price for the company in a report on Monday, April 29th. Morgan Stanley lowered their price target on shares of Old Dominion Freight Line from $174.00 to $168.00 and set an equal weight rating on the stock in a research note on Monday, July 8th. Finally, BMO Capital Markets assumed coverage on shares of Old Dominion Freight Line in a research note on Wednesday, June 5th. They set an outperform rating and a $210.00 price objective for the company. One 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. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $202.78.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $202.93 on Thursday. The company has a market capitalization of $44.09 billion, a P/E ratio of 35.73, a price-to-earnings-growth ratio of 3.89 and a beta of 1.00. Old Dominion Freight Line has a 52 week low of $165.49 and a 52 week high of $227.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 1.46. The company’s 50 day moving average price is $180.27 and its two-hundred day moving average price is $198.82.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Old Dominion Freight Line had a net margin of 21.38% and a return on equity of 30.33%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 earnings per share. On average, analysts expect that Old Dominion Freight Line will post 5.73 earnings per share for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.04 annualized dividend and a dividend yield of 0.51%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth $27,000. Raleigh Capital Management Inc. acquired a new stake in Old Dominion Freight Line in the 4th quarter worth about $29,000. Neo Ivy Capital Management bought a new stake in Old Dominion Freight Line in the 4th quarter valued at about $40,000. Farmers & Merchants Investments Inc. grew its position in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in shares of Old Dominion Freight Line by 135.7% during the fourth quarter. JFS Wealth Advisors LLC now owns 132 shares of the transportation company’s stock worth $54,000 after purchasing an additional 76 shares during the period. 77.82% of the stock is owned by institutional investors.

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.