Old Dominion Freight Line (NASDAQ:ODFL) Given New $160.00 Price Target at Jefferies Financial Group

Old Dominion Freight Line (NASDAQ:ODFL) had its price target raised by Jefferies Financial Group from $150.00 to $160.00 in a report released on Friday,MarketScreener reports. Jefferies Financial Group currently has a hold rating on the transportation company’s stock.

Several other equities research analysts have also recently issued reports on ODFL. Susquehanna lifted their price objective on Old Dominion Freight Line from $155.00 to $156.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. UBS Group raised their target price on Old Dominion Freight Line from $155.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Raymond James Financial reiterated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of Old Dominion Freight Line in a research report on Thursday, October 30th. Stifel Nicolaus set a $173.00 price objective on Old Dominion Freight Line and gave the company a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company lowered their target price on shares of Old Dominion Freight Line from $145.00 to $138.00 and set an “underweight” rating on the stock in a research note on Thursday, October 30th. Ten equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of “Hold” and a consensus target price of $155.58.

Old Dominion Freight Line Trading Down 0.7%

Shares of ODFL stock opened at $157.39 on Friday. Old Dominion Freight Line has a 1-year low of $126.01 and a 1-year high of $209.61. The company has a market cap of $32.91 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 7.84 and a beta of 1.27. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a 50 day simple moving average of $141.44 and a 200-day simple moving average of $149.53.

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

Old Dominion Freight Line Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Old Dominion Freight Line’s payout ratio is presently 22.54%.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently bought and sold shares of ODFL. Financial Gravity Companies Inc. purchased a new stake in shares of Old Dominion Freight Line during the 2nd quarter valued at approximately $26,000. Rossby Financial LCC acquired a new stake in Old Dominion Freight Line during the second quarter worth $28,000. E Fund Management Hong Kong Co. Ltd. raised its position in Old Dominion Freight Line by 175.7% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 193 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 123 shares during the period. Westside Investment Management Inc. lifted its stake in shares of Old Dominion Freight Line by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 196 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 98 shares during the last quarter. Finally, Raiffeisen Bank International AG purchased a new position in shares of Old Dominion Freight Line during the 3rd quarter worth $37,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

Old Dominion Freight Line Company Profile

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.