Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $232.00 at Cowen

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) had its target price increased by Cowen from $213.00 to $232.00 in a research note issued to investors on Thursday morning, Stock Target Advisor reports.

Several other research firms also recently weighed in on ODFL. Wells Fargo & Company lifted their price objective on Old Dominion Freight Line from $255.00 to $280.00 in a report on Thursday. Susquehanna Bancshares lifted their price objective on Old Dominion Freight Line from $275.00 to $285.00 in a report on Thursday. Raymond James decreased their price objective on Old Dominion Freight Line from $365.00 to $305.00 and set an outperform rating for the company in a report on Wednesday, April 20th. Stifel Nicolaus lifted their price objective on Old Dominion Freight Line from $320.00 to $335.00 in a report on Thursday, February 10th. Finally, Susquehanna lifted their price objective on Old Dominion Freight Line from $275.00 to $285.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $301.05.

Shares of ODFL traded down $6.11 during trading hours on Thursday, reaching $286.15. 13,194 shares of the company traded hands, compared to its average volume of 1,055,038. The firm has a market cap of $32.55 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 1.61 and a beta of 1.03. Old Dominion Freight Line has a 12-month low of $245.56 and a 12-month high of $373.58. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $294.23 and its 200 day moving average price is $318.86.

Old Dominion Freight Line (NASDAQ:ODFLGet Rating) last issued its earnings results on Wednesday, April 27th. The transportation company reported $2.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.41 by $0.19. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.46 billion. Old Dominion Freight Line had a net margin of 19.68% and a return on equity of 30.21%. The business’s revenue was up 32.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.70 earnings per share. On average, research analysts forecast that Old Dominion Freight Line will post 10.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 16th. Investors of record on Wednesday, March 2nd were given a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.42%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.20. Old Dominion Freight Line’s dividend payout ratio is currently 13.50%.

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Cambridge Investment Research Advisors Inc. boosted its position in Old Dominion Freight Line by 4.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,354 shares of the transportation company’s stock worth $3,819,000 after purchasing an additional 583 shares in the last quarter. Van ECK Associates Corp boosted its position in Old Dominion Freight Line by 9.4% in the 3rd quarter. Van ECK Associates Corp now owns 9,814 shares of the transportation company’s stock worth $2,807,000 after purchasing an additional 842 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in Old Dominion Freight Line by 3.3% in the 3rd quarter. Treasurer of the State of North Carolina now owns 38,355 shares of the transportation company’s stock worth $10,969,000 after purchasing an additional 1,229 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Old Dominion Freight Line by 9.8% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,565 shares of the transportation company’s stock worth $11,601,000 after purchasing an additional 3,624 shares in the last quarter. Finally, Versor Investments LP purchased a new stake in Old Dominion Freight Line in the 3rd quarter worth approximately $400,000. Hedge funds and other institutional investors own 77.87% of the company’s stock.

About Old Dominion Freight Line (Get Rating)

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.

Read More

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

Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.