Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $150.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target hoisted by JPMorgan Chase & Co. from $142.00 to $150.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other analysts have also recently commented on the company. Citigroup restated a “buy” rating and issued a $196.00 target price (up from $170.00) on shares of Old Dominion Freight Line in a research report on Wednesday, January 7th. Bank of America raised their price target on Old Dominion Freight Line from $147.00 to $149.00 and gave the company a “neutral” rating in a report on Wednesday, December 3rd. TD Cowen upped their price objective on shares of Old Dominion Freight Line from $154.00 to $167.00 and gave the stock a “hold” rating in a report on Friday, January 9th. Cowen reiterated a “hold” rating on shares of Old Dominion Freight Line in a research report on Friday, January 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Old Dominion Freight Line in a research report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $160.79.

Old Dominion Freight Line Trading Up 1.1%

Shares of NASDAQ ODFL opened at $173.52 on Monday. Old Dominion Freight Line has a 12-month low of $126.01 and a 12-month high of $209.61. The company has a market cap of $36.28 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 8.43 and a beta of 1.27. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.02. The stock’s 50 day simple moving average is $150.60 and its 200 day simple moving average is $149.83.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Wednesday, October 29th. The transportation company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. Old Dominion Freight Line had a return on equity of 24.92% and a net margin of 18.97%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the business earned $1.43 EPS. The firm’s revenue was down 4.3% on a year-over-year basis. Equities research analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, December 3rd. Old Dominion Freight Line’s payout ratio is presently 22.54%.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently added to or reduced their stakes in the business. Diversified Trust Co. lifted its position in shares of Old Dominion Freight Line by 1.7% during the 4th quarter. Diversified Trust Co. now owns 3,883 shares of the transportation company’s stock valued at $609,000 after acquiring an additional 65 shares during the last quarter. Stephens Inc. AR raised its position in shares of Old Dominion Freight Line by 0.7% during the second quarter. Stephens Inc. AR now owns 10,261 shares of the transportation company’s stock worth $1,665,000 after purchasing an additional 67 shares during the period. YANKCOM Partnership lifted its holdings in shares of Old Dominion Freight Line by 9.1% during the second quarter. YANKCOM Partnership now owns 818 shares of the transportation company’s stock valued at $133,000 after purchasing an additional 68 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its position in shares of Old Dominion Freight Line by 4.4% in the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 1,674 shares of the transportation company’s stock valued at $272,000 after purchasing an additional 71 shares during the period. Finally, iA Global Asset Management Inc. boosted its position in shares of Old Dominion Freight Line by 0.3% in the 2nd quarter. iA Global Asset Management Inc. now owns 23,468 shares of the transportation company’s stock valued at $3,809,000 after purchasing an additional 72 shares during the period. 77.82% of the stock is currently owned by institutional investors.

About Old Dominion Freight Line

Old Dominion Freight Line is a U.S.-based less-than-truckload (LTL) transportation company that provides regional, inter-regional and national freight services. Founded in 1934 and headquartered in Thomasville, North Carolina, the company has grown from a regional carrier into a national freight network, operating a broad system of service centers and terminals to move shipments for shippers of varying sizes and industries.

The company’s core business is LTL trucking, offering scheduled pickup and delivery for palletized freight that does not require a full truckload.