Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $202.00 at Evercore ISI

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective lifted by Evercore ISI from $199.00 to $202.00 in a research note released on Thursday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the transportation company’s stock.

Several other equities research analysts also recently weighed in on the company. The Goldman Sachs Group upped their price target on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. TD Cowen reduced their target price on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company lowered their price target on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Jefferies Financial Group raised their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Finally, Argus downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Stock Performance

Shares of Old Dominion Freight Line stock opened at $195.88 on Thursday. The stock has a market capitalization of $41.82 billion, a price-to-earnings ratio of 34.24, a price-to-earnings-growth ratio of 4.95 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50-day moving average of $190.65 and a 200 day moving average of $197.69. Old Dominion Freight Line has a 12 month low of $165.49 and a 12 month high of $233.26.

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

Old Dominion Freight Line Increases Dividend

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

Hedge Funds Weigh In On Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently made changes to their positions in ODFL. SevenBridge Financial Group LLC grew its stake in shares of Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 50 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Old Dominion Freight Line by 0.5% during the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares during the period. Hantz Financial Services Inc. grew its position in Old Dominion Freight Line by 3.6% in the 4th quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after buying an additional 55 shares during the last quarter. D.A. Davidson & CO. increased its stake in Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after buying an additional 55 shares during the period. Finally, Kestra Private Wealth Services LLC raised its position in Old Dominion Freight Line by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after buying an additional 62 shares during the last quarter. 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.