Old Dominion Freight Line’s (ODFL) Overweight Rating Reaffirmed at Stephens

Stephens restated their overweight rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $240.00 price target on the transportation company’s stock.

Several other equities analysts also recently issued reports on ODFL. Stifel Nicolaus raised their price target on shares of Old Dominion Freight Line from $176.00 to $193.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. TD Cowen lowered their target price on Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price target on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 7th. BMO Capital Markets cut their price objective on Old Dominion Freight Line from $210.00 to $205.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group upped their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $203.33.

Old Dominion Freight Line Trading Up 1.2 %

Shares of ODFL stock opened at $195.88 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $41.82 billion, a P/E ratio of 34.24, a P/E/G ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $233.26. The stock’s fifty day simple moving average is $190.65 and its 200 day simple moving average is $197.69.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. As a group, sell-side analysts predict that Old Dominion Freight Line will post 5.42 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.18%.

Hedge Funds Weigh In On Old Dominion Freight Line

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Old Dominion Freight Line by 109.5% during the 3rd quarter. Wellington Management Group LLP now owns 1,435,228 shares of the transportation company’s stock valued at $285,094,000 after purchasing an additional 750,073 shares in the last quarter. AustralianSuper Pty Ltd acquired a new stake in shares of Old Dominion Freight Line in the 4th quarter worth about $128,221,000. International Assets Investment Management LLC raised its holdings in shares of Old Dominion Freight Line by 19,764.0% in the 3rd quarter. International Assets Investment Management LLC now owns 685,308 shares of the transportation company’s stock worth $136,130,000 after acquiring an additional 681,858 shares during the last quarter. Raymond James Financial Inc. bought a new position in Old Dominion Freight Line in the 4th quarter valued at about $114,449,000. Finally, Franklin Resources Inc. boosted its stake in Old Dominion Freight Line by 74.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,022,812 shares of the transportation company’s stock valued at $207,068,000 after purchasing an additional 437,700 shares during the last quarter. 77.82% of the stock is owned by institutional investors and hedge funds.

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.