Old Dominion Freight Line’s (ODFL) “In-Line” Rating Reaffirmed at Evercore ISI

Evercore ISI reiterated their in-line rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage currently has a $196.00 price objective on the transportation company’s stock, down from their prior price objective of $225.00.

A number of other research firms have also recently weighed in on ODFL. JPMorgan Chase & Co. decreased their price objective on Old Dominion Freight Line from $231.00 to $219.00 and set a neutral rating for the company in a research report on Thursday, April 25th. Raymond James decreased their price target on Old Dominion Freight Line from $215.00 to $190.00 and set an outperform rating for the company in a report on Monday, June 24th. Susquehanna dropped their price objective on shares of Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating on the stock in a research note on Wednesday, June 12th. Barclays reduced their target price on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating for the company in a research note on Wednesday, June 12th. Finally, BMO Capital Markets started coverage on shares of Old Dominion Freight Line in a report on Wednesday, June 5th. They set an outperform rating and a $210.00 price target for the company. One analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line currently has an average rating of Hold and a consensus price target of $201.18.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $176.60 on Tuesday. The stock has a market capitalization of $38.37 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 2.29 and a beta of 1.02. The firm’s fifty day simple moving average is $179.13 and its 200-day simple moving average is $200.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data 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 net margin of 21.19% and a return on equity of 30.12%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.47 billion. As a group, equities analysts forecast that Old Dominion Freight Line will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.59%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. Fortitude Family Office LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at $27,000. Trust Co. of Vermont acquired a new stake in shares of Old Dominion Freight Line during the 4th quarter worth about $27,000. Farmers & Merchants Investments Inc. boosted its stake in shares of Old Dominion Freight Line by 100.0% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 124 shares of the transportation company’s stock worth $27,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $29,000. Finally, Headinvest LLC acquired a new position in shares of Old Dominion Freight Line in the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.