Old Dominion Freight Line (NASDAQ:ODFL) Receives “In-Line” Rating from Evercore ISI

Evercore ISI reaffirmed their in-line rating on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report released on Tuesday, Marketbeat Ratings reports. The firm currently has a $196.00 target price on the transportation company’s stock, down from their prior target price of $225.00.

Several other analysts have also recently commented on the company. UBS Group raised their target price on Old Dominion Freight Line from $202.00 to $205.00 and gave the company a neutral rating in a research report on Thursday, April 25th. Susquehanna reduced their price objective on shares of 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. Wells Fargo & Company began coverage on shares of Old Dominion Freight Line in a research note on Friday, June 7th. They set an underweight rating and a $175.00 target price on the stock. Bank of America reduced their price target on shares of Old Dominion Freight Line from $205.00 to $192.00 and set a neutral rating for the company in a research note on Thursday, June 6th. Finally, Barclays lowered their price objective on shares of Old Dominion Freight Line from $205.00 to $195.00 and set an equal weight rating on the stock in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $201.18.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $176.60 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. Old Dominion Freight Line has a 1 year low of $165.49 and a 1 year high of $227.80. The firm has a fifty day moving average of $179.13 and a 200-day moving average of $200.02. The company has a market cap of $38.37 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.01. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.47 billion. As a group, equities analysts anticipate that Old Dominion Freight Line will post 5.96 earnings per share for the current year.

Old Dominion Freight Line Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.04 annualized dividend and a yield of 0.59%. Old Dominion Freight Line’s payout ratio is presently 18.31%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ODFL. Quent Capital LLC lifted its position in shares of Old Dominion Freight Line by 93.6% in the 1st quarter. Quent Capital LLC now owns 1,210 shares of the transportation company’s stock valued at $266,000 after acquiring an additional 585 shares in the last quarter. SRN Advisors LLC lifted its holdings in shares of Old Dominion Freight Line by 111.2% in the first quarter. SRN Advisors LLC now owns 6,046 shares of the transportation company’s stock valued at $1,326,000 after purchasing an additional 3,183 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Old Dominion Freight Line by 133.2% in the first quarter. EverSource Wealth Advisors LLC now owns 2,059 shares of the transportation company’s stock worth $452,000 after buying an additional 1,176 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of Old Dominion Freight Line by 58.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 37,457 shares of the transportation company’s stock valued at $8,215,000 after buying an additional 13,870 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in Old Dominion Freight Line by 89.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 14,688 shares of the transportation company’s stock valued at $3,222,000 after buying an additional 6,944 shares during the period. 77.82% of the stock is owned by hedge funds and other institutional investors.

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.