Old Dominion Freight Line (NASDAQ:ODFL) Shares Gap Up to $169.33

Old Dominion Freight Line, Inc. (NASDAQ:ODFLGet Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $169.33, but opened at $177.10. Old Dominion Freight Line shares last traded at $179.65, with a volume of 490,203 shares changing hands.

Analysts Set New Price Targets

ODFL has been the topic of several research analyst reports. Susquehanna raised their price objective on Old Dominion Freight Line from $232.50 to $257.50 and gave the company a “positive” rating in a report on Thursday, February 8th. Robert W. Baird raised Old Dominion Freight Line from a “neutral” rating to an “outperform” rating and set a $205.00 price objective on the stock in a report on Wednesday, May 8th. The Goldman Sachs Group lifted their price target on Old Dominion Freight Line from $200.00 to $222.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. TD Cowen lowered their price target on Old Dominion Freight Line from $209.00 to $206.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Finally, Vertical Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $175.00 price target on the stock in a research note on Monday, April 29th. Twelve analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $209.13.

View Our Latest Report on Old Dominion Freight Line

Old Dominion Freight Line Price Performance

The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.01. The company has a market cap of $38.18 billion, a PE ratio of 30.93, a P/E/G ratio of 2.18 and a beta of 1.02. The stock has a 50-day simple moving average of $199.33 and a 200 day simple moving average of $202.92.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a return on equity of 30.12% and a net margin of 21.19%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.47 billion. Equities analysts expect that Old Dominion Freight Line, Inc. will post 6.02 EPS for the current year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio is currently 18.31%.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODFL. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $27,000. Trust Co. of Vermont purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $27,000. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $29,000. Headinvest LLC purchased a new stake in shares of Old Dominion Freight Line in the 3rd quarter valued at $30,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Old Dominion Freight Line in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

(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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