Old Dominion Freight Line (NASDAQ:ODFL) had its price objective boosted by Morgan Stanley from $200.00 to $220.00 in a research note released on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the transportation company’s stock.
A number of other analysts have also weighed in on the stock. Citigroup set a $185.00 target price on shares of Old Dominion Freight Line and gave the company a hold rating in a research report on Friday, October 25th. KeyCorp raised their target price on shares of Old Dominion Freight Line from $210.00 to $235.00 and gave the company an overweight rating in a research report on Friday, February 7th. BidaskClub lowered shares of Old Dominion Freight Line from a buy rating to a hold rating in a research report on Thursday, January 23rd. Stifel Nicolaus lowered shares of Old Dominion Freight Line from a hold rating to a sell rating and raised their target price for the company from $148.00 to $155.00 in a research report on Friday, October 25th. Finally, Goldman Sachs Group assumed coverage on shares of Old Dominion Freight Line in a research report on Thursday, December 5th. They issued a sell rating and a $173.00 target price on the stock. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Old Dominion Freight Line has an average rating of Hold and an average price target of $186.42.
Shares of Old Dominion Freight Line stock opened at $221.91 on Tuesday. Old Dominion Freight Line has a fifty-two week low of $130.87 and a fifty-two week high of $223.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.37 and a quick ratio of 2.03. The firm has a market capitalization of $17.71 billion, a P/E ratio of 29.01, a P/E/G ratio of 2.83 and a beta of 1.45. The company’s 50 day moving average price is $202.45 and its two-hundred day moving average price is $183.14.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, February 6th. The transportation company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.02. Old Dominion Freight Line had a net margin of 14.98% and a return on equity of 21.30%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the business posted $1.95 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts expect that Old Dominion Freight Line will post 8.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Tuesday, March 3rd. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.17.
In other news, SVP David J. Bates sold 339 shares of Old Dominion Freight Line stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $220.62, for a total transaction of $74,790.18. Following the transaction, the senior vice president now owns 5,577 shares in the company, valued at $1,230,397.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 11.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of ODFL. BB&T Securities LLC raised its stake in Old Dominion Freight Line by 6.8% during the third quarter. BB&T Securities LLC now owns 6,140 shares of the transportation company’s stock worth $1,042,000 after buying an additional 389 shares during the last quarter. Resources Management Corp CT ADV bought a new position in Old Dominion Freight Line during the third quarter worth $98,000. Massachusetts Financial Services Co. MA bought a new position in Old Dominion Freight Line during the third quarter worth $62,770,000. State of Tennessee Treasury Department raised its stake in Old Dominion Freight Line by 4.4% during the third quarter. State of Tennessee Treasury Department now owns 53,609 shares of the transportation company’s stock worth $9,112,000 after buying an additional 2,249 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its stake in Old Dominion Freight Line by 80.0% during the third quarter. IFM Investors Pty Ltd now owns 7,120 shares of the transportation company’s stock worth $1,210,000 after buying an additional 3,164 shares during the last quarter. Institutional investors own 75.05% of the company’s stock.
Old Dominion Freight Line Company Profile
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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