Analysts Set Old Dominion Freight Line (ODFL) Target Price at $148.50

Shares of Old Dominion Freight Line (NASDAQ:ODFL) have been assigned a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $148.50.

A number of analysts have recently weighed in on ODFL shares. BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Friday, August 17th. KeyCorp boosted their target price on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Monday, July 2nd. Morgan Stanley boosted their target price on shares of Old Dominion Freight Line from $154.00 to $158.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Bank of America boosted their target price on shares of Old Dominion Freight Line from $139.00 to $143.00 and gave the stock an “underperform” rating in a report on Thursday, August 30th. Finally, ValuEngine upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th.

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Alaska Department of Revenue lifted its position in shares of Old Dominion Freight Line by 50.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,000 shares of the transportation company’s stock worth $1,191,000 after purchasing an additional 2,680 shares during the period. Scout Investments Inc. lifted its position in shares of Old Dominion Freight Line by 3.8% in the 2nd quarter. Scout Investments Inc. now owns 107,486 shares of the transportation company’s stock worth $16,011,000 after purchasing an additional 3,938 shares during the period. Torch Wealth Management LLC purchased a new stake in shares of Old Dominion Freight Line in the 2nd quarter worth approximately $1,504,000. Jaffetilchin Investment Partners LLC lifted its position in shares of Old Dominion Freight Line by 62.2% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 7,125 shares of the transportation company’s stock worth $1,061,000 after purchasing an additional 2,731 shares during the period. Finally, Carillon Tower Advisers Inc. lifted its position in shares of Old Dominion Freight Line by 35.0% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 328,396 shares of the transportation company’s stock worth $48,917,000 after purchasing an additional 85,156 shares during the period. 72.34% of the stock is owned by hedge funds and other institutional investors.

Shares of Old Dominion Freight Line stock traded up $1.44 during trading hours on Wednesday, reaching $158.21. The company’s stock had a trading volume of 20,515 shares, compared to its average volume of 651,733. Old Dominion Freight Line has a one year low of $104.26 and a one year high of $170.22. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.02. The company has a market cap of $12.85 billion, a PE ratio of 36.10, a price-to-earnings-growth ratio of 0.90 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, July 26th. The transportation company reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.17. Old Dominion Freight Line had a net margin of 15.37% and a return on equity of 20.31%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $1.19 EPS. The business’s quarterly revenue was up 23.1% on a year-over-year basis. sell-side analysts expect that Old Dominion Freight Line will post 6.93 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Stockholders of record on Thursday, September 6th were given a $0.13 dividend. The ex-dividend date was Wednesday, September 5th. This represents a $0.52 annualized dividend and a dividend yield of 0.33%. Old Dominion Freight Line’s payout ratio is presently 11.93%.

About Old Dominion Freight Line

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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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