Citigroup Increases Old Dominion Freight Line (ODFL) Price Target to $155.00

Old Dominion Freight Line (NASDAQ:ODFL) had its target price hoisted by Citigroup from $145.00 to $155.00 in a research note issued to investors on Thursday, Stock Target Advisor reports. Citigroup currently has a neutral rating on the transportation company’s stock.

A number of other research analysts have also issued reports on the company. Seaport Global Securities reiterated a buy rating on shares of Old Dominion Freight Line in a report on Friday, April 5th. Zacks Investment Research upgraded Old Dominion Freight Line from a hold rating to a buy rating and set a $158.00 target price for the company in a report on Monday, March 11th. Bank of America lowered Old Dominion Freight Line from a buy rating to a neutral rating and lifted their target price for the company from $154.00 to $158.00 in a report on Tuesday, February 26th. KeyCorp lifted their target price on Old Dominion Freight Line from $150.00 to $160.00 and gave the company an overweight rating in a report on Friday, February 8th. Finally, Cowen lifted their target price on Old Dominion Freight Line from $133.00 to $142.00 and gave the company a market perform rating in a report on Thursday, February 7th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Old Dominion Freight Line currently has a consensus rating of Hold and an average target price of $149.20.

NASDAQ:ODFL opened at $153.74 on Thursday. The firm has a market capitalization of $12.44 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.25 and a beta of 1.44. Old Dominion Freight Line has a 12-month low of $115.00 and a 12-month high of $170.22. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.02.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, February 7th. The transportation company reported $1.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.74 by $0.21. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. Old Dominion Freight Line had a return on equity of 23.90% and a net margin of 14.98%. Old Dominion Freight Line’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business posted $2.39 earnings per share. Equities research analysts predict that Old Dominion Freight Line will post 7.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.44%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, March 5th. Old Dominion Freight Line’s payout ratio is 9.21%.

In other Old Dominion Freight Line news, SVP David J. Bates sold 1,951 shares of Old Dominion Freight Line stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $151.84, for a total transaction of $296,239.84. Following the completion of the sale, the senior vice president now directly owns 6,027 shares of the company’s stock, valued at approximately $915,139.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc lifted its holdings in Old Dominion Freight Line by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 6,456,920 shares of the transportation company’s stock worth $1,041,243,000 after buying an additional 153,943 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Old Dominion Freight Line by 9,888.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,182,730 shares of the transportation company’s stock worth $34,000 after purchasing an additional 4,140,856 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Old Dominion Freight Line by 9.7% during the third quarter. Bank of New York Mellon Corp now owns 807,134 shares of the transportation company’s stock worth $130,159,000 after purchasing an additional 71,408 shares in the last quarter. London Co. of Virginia increased its position in shares of Old Dominion Freight Line by 7.5% during the fourth quarter. London Co. of Virginia now owns 769,561 shares of the transportation company’s stock worth $95,033,000 after purchasing an additional 53,679 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth about $89,762,000. 72.66% of the stock is owned by institutional investors.

Old Dominion Freight Line Company Profile

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 expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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

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