Wells Fargo & Company assumed coverage on shares of Old Dominion Freight Line (NASDAQ:ODFL – Free Report) in a research report report published on Friday morning, Marketbeat reports. The brokerage issued an underweight rating and a $175.00 price objective on the transportation company’s stock.
A number of other research firms have also issued reports on ODFL. Barclays reduced their target price on shares of Old Dominion Freight Line from $210.00 to $205.00 and set an equal weight rating on the stock in a report on Thursday, April 25th. UBS Group raised their price target on shares of Old Dominion Freight Line from $202.00 to $205.00 and gave the company a neutral rating in a report on Thursday, April 25th. BMO Capital Markets started coverage on Old Dominion Freight Line in a research note on Wednesday. They issued an outperform rating and a $210.00 price target on the stock. The Goldman Sachs Group increased their price objective on shares of Old Dominion Freight Line from $200.00 to $222.00 and gave the company a neutral rating in a research note on Thursday, February 8th. Finally, Susquehanna lifted their target price on Old Dominion Freight Line from $232.50 to $257.50 and gave the stock a positive rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $206.35.
Old Dominion Freight Line Price Performance
Old Dominion Freight Line stock traded down $1.31 during mid-day trading on Friday, reaching $168.53. The company had a trading volume of 1,502,832 shares, compared to its average volume of 1,577,262. The stock’s 50-day simple moving average is $193.30 and its 200-day simple moving average is $202.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.29 and a quick ratio of 2.29. The company has a market capitalization of $36.62 billion, a P/E ratio of 29.67, a P/E/G ratio of 2.23 and a beta of 1.02. Old Dominion Freight Line has a 1 year low of $149.45 and a 1 year high of $227.80.
Old Dominion Freight Line (NASDAQ:ODFL – Get Free Report) last issued 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. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. On average, equities analysts predict that Old Dominion Freight Line will post 6.02 EPS for the current year.
Old Dominion Freight Line Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Wednesday, June 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.31%.
Institutional Trading of Old Dominion Freight Line
A number of institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. purchased a new stake in shares of Old Dominion Freight Line during the third quarter valued at $783,000. Avantax Advisory Services Inc. lifted its position in shares of Old Dominion Freight Line by 12.1% during the 3rd quarter. Avantax Advisory Services Inc. now owns 2,674 shares of the transportation company’s stock worth $1,094,000 after purchasing an additional 288 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Old Dominion Freight Line by 1.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 35,433 shares of the transportation company’s stock valued at $14,497,000 after purchasing an additional 402 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Old Dominion Freight Line by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 513,755 shares of the transportation company’s stock valued at $210,198,000 after acquiring an additional 4,692 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in Old Dominion Freight Line by 3.5% in the 3rd quarter. Van ECK Associates Corp now owns 17,563 shares of the transportation company’s stock valued at $7,186,000 after purchasing an additional 586 shares during the period. 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.
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