Old Dominion Freight Line (NASDAQ:ODFL) PT Raised to $214.00 at TD Cowen

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective increased by TD Cowen from $206.00 to $214.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a hold rating on the transportation company’s stock.

Several other brokerages have also recently weighed in on ODFL. Vertical Research upgraded Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 target price for the company in a report on Monday, April 29th. Baird R W upgraded Old Dominion Freight Line from a hold rating to a strong-buy rating in a report on Wednesday, May 8th. Susquehanna dropped their target price on Old Dominion Freight Line from $245.00 to $210.00 and set a positive rating for the company in a report on Wednesday, June 12th. Benchmark reiterated a hold rating on shares of Old Dominion Freight Line in a report on Thursday. Finally, Robert W. Baird increased their price objective on Old Dominion Freight Line from $205.00 to $215.00 and gave the stock an outperform rating in a report on Thursday. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Old Dominion Freight Line currently has a consensus rating of Hold and a consensus price target of $201.97.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $205.70 on Thursday. The firm has a market capitalization of $44.70 billion, a P/E ratio of 36.21, a P/E/G ratio of 2.58 and a beta of 1.00. The company has a quick ratio of 2.29, a current ratio of 1.46 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $179.87 and its two-hundred day simple moving average is $198.72. Old Dominion Freight Line has a twelve month low of $165.49 and a twelve month high of $227.80.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.45 by $0.03. The firm had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Old Dominion Freight Line had a return on equity of 30.33% and a net margin of 21.38%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.33 EPS. As a group, equities analysts anticipate that Old Dominion Freight Line will post 5.85 EPS for the current fiscal year.

Old Dominion Freight Line Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Wednesday, September 4th. Old Dominion Freight Line’s payout ratio is 18.31%.

Institutional Trading of Old Dominion Freight Line

Institutional investors and hedge funds have recently modified their holdings of the business. Chevy Chase Trust Holdings LLC increased its holdings in shares of Old Dominion Freight Line by 98.3% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 100,892 shares of the transportation company’s stock worth $22,127,000 after purchasing an additional 50,019 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of Old Dominion Freight Line by 65.0% in the 1st quarter. Forsta AP Fonden now owns 39,600 shares of the transportation company’s stock worth $8,685,000 after purchasing an additional 15,600 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Old Dominion Freight Line by 98.6% in the 1st quarter. Sei Investments Co. now owns 43,188 shares of the transportation company’s stock worth $9,471,000 after purchasing an additional 21,438 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Old Dominion Freight Line by 162.9% in the first quarter. Diversified Trust Co now owns 7,350 shares of the transportation company’s stock worth $1,612,000 after acquiring an additional 4,554 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Old Dominion Freight Line by 85.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 214,954 shares of the transportation company’s stock worth $47,041,000 after acquiring an additional 99,228 shares during the period. Institutional investors own 77.82% of the company’s stock.

Old Dominion Freight Line Company Profile

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.