Citigroup upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL - Free Report) from a neutral rating to a buy rating in a report released on Tuesday, Marketbeat Ratings reports. They currently have $183.00 price objective on the transportation company's stock, down from their previous price objective of $186.00.
Other equities analysts have also recently issued reports about the company. Wells Fargo & Company lowered their price objective on Old Dominion Freight Line from $185.00 to $160.00 and set an "underweight" rating on the stock in a research report on Thursday, March 27th. The Goldman Sachs Group increased their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a "neutral" rating in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a research report on Friday, March 7th. They issued a "buy" rating and a $236.00 target price for the company. Stephens reiterated an "overweight" rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, February 6th. Finally, Barclays decreased their price objective on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an "equal weight" rating for the company in a report on Wednesday, April 2nd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $195.75.
Read Our Latest Report on ODFL
Old Dominion Freight Line Stock Down 2.9 %
Shares of NASDAQ:ODFL traded down $4.52 on Tuesday, hitting $152.23. 2,640,834 shares of the company traded hands, compared to its average volume of 1,676,336. The stock has a 50 day simple moving average of $175.40 and a 200-day simple moving average of $190.47. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The company has a market cap of $32.36 billion, a PE ratio of 27.78, a PEG ratio of 2.89 and a beta of 1.25. Old Dominion Freight Line has a 52 week low of $145.79 and a 52 week high of $233.26.
Old Dominion Freight Line (NASDAQ:ODFL - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates 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%. As a group, research analysts expect that Old Dominion Freight Line will post 5.68 earnings per share for the current year.
Old Dominion Freight Line Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.12 annualized dividend and a yield of 0.74%. This is an increase from Old Dominion Freight Line's previous quarterly dividend of $0.26. Old Dominion Freight Line's dividend payout ratio is currently 18.98%.
Institutional Investors Weigh In On Old Dominion Freight Line
Institutional investors and hedge funds have recently bought and sold shares of the business. Avanza Fonder AB bought a new stake in Old Dominion Freight Line during the 4th quarter valued at approximately $3,741,000. AustralianSuper Pty Ltd bought a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $128,221,000. Toronto Dominion Bank boosted its position in shares of Old Dominion Freight Line by 77.7% during the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company's stock worth $19,479,000 after acquiring an additional 42,880 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in Old Dominion Freight Line during the fourth quarter valued at $630,000. Finally, Board of the Pension Protection Fund bought a new stake in Old Dominion Freight Line in the 4th quarter valued at $600,000. 77.82% of the stock is owned by institutional investors.
About Old Dominion Freight Line
(
Get Free Report)
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.
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