Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $170.00 at Morgan Stanley

Old Dominion Freight Line (NASDAQ:ODFL - Free Report) had its price objective raised by Morgan Stanley from $165.00 to $170.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an equal weight rating on the transportation company's stock.

ODFL has been the topic of several other research reports. Stifel Nicolaus increased their price target on Old Dominion Freight Line from $176.00 to $193.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd. Bank of America cut their target price on Old Dominion Freight Line from $237.00 to $204.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group boosted their price target on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a research note on Thursday, December 12th. Robert W. Baird dropped their price objective on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Finally, TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a "hold" rating for the company in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line has an average rating of "Hold" and an average target price of $203.33.

Old Dominion Freight Line Trading Up 2.3 %

Shares of ODFL stock traded up $4.58 during trading hours on Thursday, hitting $201.78. 1,970,580 shares of the company were exchanged, compared to its average volume of 1,481,974. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26. The company has a 50 day simple moving average of $190.09 and a two-hundred day simple moving average of $197.75. The firm has a market cap of $43.08 billion, a P/E ratio of 36.82, a P/E/G ratio of 5.30 and a beta of 1.05.

Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. Equities analysts anticipate that Old Dominion Freight Line will post 5.69 EPS for the current year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.56%. This is a positive change from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is presently 18.98%.

Institutional Trading of Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the stock. Nicholas Company Inc. grew its position in shares of Old Dominion Freight Line by 6.1% during the 4th quarter. Nicholas Company Inc. now owns 95,565 shares of the transportation company's stock valued at $16,858,000 after acquiring an additional 5,495 shares during the period. GWN Securities Inc. bought a new position in Old Dominion Freight Line during the fourth quarter valued at $222,000. one8zero8 LLC purchased a new stake in Old Dominion Freight Line in the fourth quarter worth $431,000. Natixis Advisors LLC raised its stake in shares of Old Dominion Freight Line by 10.3% in the fourth quarter. Natixis Advisors LLC now owns 358,402 shares of the transportation company's stock valued at $63,222,000 after buying an additional 33,496 shares during the period. Finally, Alpine Woods Capital Investors LLC bought a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $582,000. Institutional investors own 77.82% of the company's stock.

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.