Old Dominion Freight Line, Inc. (NASDAQ:ODFL – Get Rating) received an average rating of “Hold” from the twenty analysts who currently cover the company, MarketBeat reports. Two research analysts gave the stock a sell rating, eight gave the company a hold rating and two gave the company a buy rating. The average 1-year target price among brokers who have issued ratings on the stock in the past year is $297.06.

Several equity analysts have recently weighed in on ODFL shares. Cowen raised his price target on Old Dominion Freight Line from $213.00 to $232.00 in a Thursday, April 28 research note. Morgan Stanley raised its price target on Old Dominion Freight Line from $335.00 to $337.00 and gave the company an “equal weight” rating in a Monday, April 4 research note. Raymond James reduced his price target on Old Dominion Freight Line from $305.00 to $265.00 in a Friday, July 15 research note. Susquehanna raised its price target on Old Dominion Freight Line from $275.00 to $285.00 in a Thursday, April 28 research note. Finally, Wolfe Research downgraded Old Dominion Freight Line from a “peer performing” rating to an “underperforming” rating in a Tuesday, July 12, report.

Old Dominion Freight Line Stock Performance

The NASDAQ ODFL opened Wednesday at $270.65. The stock has a 50-day simple moving average of $255.56 and a two-hundred-day simple moving average of $284.35. The company has a market capitalization of $30.68 billion, a P/E ratio of 27.65, a PEG ratio of 1.24 and a beta of 1.00. Old Dominion Freight Line has a fifty-two week low of $231.31 and a fifty-two week high of $373.58. The company has a debt ratio of 0.03, a quick ratio of 2.21 and a current ratio of 2.21.

Old Dominion Freight Line (NASDAQ:ODFL – Get Rating) last reported quarterly results on Wednesday, April 27. The transportation company reported earnings per share of $2.60 for the quarter, beating the consensus estimate of $2.37 by $0.23. Old Dominion Freight Line had a return on equity of 32.41% and a net margin of 20.17%. The company posted revenue of $1.50 billion in the quarter, versus analyst estimates of $1.46 billion. In the same quarter of the previous year, the company achieved EPS of $1.70. Old Dominion Freight Line’s revenue for the quarter increased 32.9% compared to the same quarter last year. On average, stock analysts expect Old Dominion Freight Line to post earnings per share of 11.45 for the current year.

Old Dominion Freight Line Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Wednesday, June 1 received a dividend of $0.30 per share. This represents an annualized dividend of $1.20 and a dividend yield of 0.44%. The ex-dividend date was Tuesday, May 31. Old Dominion Freight Line’s dividend payout ratio is currently 12.26%.

Institutional entries and exits

Several institutional investors and hedge funds have recently changed their positions in ODFL. Heartland Bank & Trust Co increased its holdings in Old Dominion Freight Line by 1.4% in the fourth quarter. Heartland Bank & Trust Co now owns 2,465 shares of the transportation company valued at $883,000 after acquiring 33 additional shares in the last quarter. Rehmann Capital Advisory Group increased its holdings of Old Dominion Freight Line shares by 2.8% during the fourth quarter. Rehmann Capital Advisory Group now owns 1,302 shares of the transportation company worth $467,000 after buying 36 additional shares during the period. Janney Capital Management LLC increased its position in Old Dominion Freight Line shares by 2.8% during the first quarter. Janney Capital Management LLC now owns 1,300 shares of the transportation company worth $388,000 after buying 36 additional shares in the last quarter. Verdence Capital Advisors LLC increased its position in Old Dominion Freight Line shares by 4.0% during the first quarter. Verdence Capital Advisors LLC now owns 1,002 shares of the transportation company worth $299,000 after buying 39 additional shares in the last quarter. Finally, Profund Advisors LLC increased its position in shares of Old Dominion Freight Line by 2.8% during the 4th quarter. Profund Advisors LLC now owns 1,450 shares of the transportation company worth $520,000 after buying 40 more shares in the last quarter. 77.86% of the shares are currently held by institutional investors and hedge funds.

About the Old Dominion Freight Line

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Old Dominion Freight Line, Inc. operates as a Less Than Truckload (LTL) truck carrier in the United States and North America. It provides regional, inter-regional and domestic LTL services, including expedited shipping. The company also offers various value-added services, such as container drayage, truckload brokerage and supply chain consulting.

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