Old Dominion Freight Line (ODFL) Receives $147.36 Consensus PT from Analysts

Shares of Old Dominion Freight Line (NASDAQ:ODFL) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $147.36.

A number of brokerages recently issued reports on ODFL. Buckingham Research decreased their price target on shares of Old Dominion Freight Line from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, October 26th. ValuEngine upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. BidaskClub upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Friday, August 17th. Deutsche Bank upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating and set a $131.00 price target for the company in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Credit Suisse Group decreased their price target on shares of Old Dominion Freight Line from $159.00 to $149.00 and set an “outperform” rating for the company in a research note on Friday, October 26th.

A number of institutional investors have recently modified their holdings of ODFL. Vanguard Group Inc. raised its holdings in Old Dominion Freight Line by 2.4% during the third quarter. Vanguard Group Inc. now owns 6,456,920 shares of the transportation company’s stock worth $1,041,243,000 after purchasing an additional 153,943 shares in the last quarter. Morgan Stanley raised its holdings in Old Dominion Freight Line by 1.6% during the third quarter. Morgan Stanley now owns 481,173 shares of the transportation company’s stock worth $77,592,000 after purchasing an additional 7,564 shares in the last quarter. Legal & General Group Plc raised its holdings in Old Dominion Freight Line by 4.1% during the third quarter. Legal & General Group Plc now owns 337,204 shares of the transportation company’s stock worth $54,378,000 after purchasing an additional 13,251 shares in the last quarter. Csenge Advisory Group acquired a new stake in Old Dominion Freight Line during the third quarter worth approximately $144,000. Finally, TIAA CREF Investment Management LLC raised its holdings in Old Dominion Freight Line by 0.8% during the third quarter. TIAA CREF Investment Management LLC now owns 158,923 shares of the transportation company’s stock worth $25,628,000 after purchasing an additional 1,237 shares in the last quarter. Institutional investors own 72.55% of the company’s stock.

Shares of NASDAQ ODFL traded down $5.44 during midday trading on Monday, hitting $128.75. The company’s stock had a trading volume of 790,813 shares, compared to its average volume of 549,997. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.92 and a current ratio of 1.92. Old Dominion Freight Line has a 1 year low of $118.73 and a 1 year high of $170.22. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 0.75 and a beta of 1.39.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, October 25th. The transportation company reported $2.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.15. Old Dominion Freight Line had a net margin of 16.47% and a return on equity of 22.13%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. Equities analysts predict that Old Dominion Freight Line will post 7.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.52 dividend on an annualized basis and a yield of 0.40%. Old Dominion Freight Line’s dividend payout ratio is currently 11.93%.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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