Old Dominion Freight Line (NASDAQ:ODFL) Earns Hold Rating from Analysts at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report report published on Monday morning, The Fly reports. The firm issued a hold rating on the transportation company’s stock.

Other research analysts have also recently issued reports about the stock. KeyCorp raised their target price on shares of Old Dominion Freight Line from $270.00 to $280.00 and gave the stock an overweight rating in a report on Friday, May 28th. Stephens raised their price target on shares of Old Dominion Freight Line from $240.00 to $280.00 and gave the stock an overweight rating in a report on Wednesday, April 7th. The Goldman Sachs Group upgraded shares of Old Dominion Freight Line from a neutral rating to a buy rating and raised their price target for the stock from $222.00 to $238.00 in a report on Wednesday, March 10th. Morgan Stanley raised their price target on shares of Old Dominion Freight Line from $230.00 to $270.00 and gave the stock an overweight rating in a report on Tuesday, April 6th. Finally, Evercore ISI restated a buy rating on shares of Old Dominion Freight Line in a report on Sunday, April 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $238.29.

Shares of ODFL traded up $5.05 during midday trading on Monday, hitting $251.40. The stock had a trading volume of 496,989 shares, compared to its average volume of 694,821. Old Dominion Freight Line has a fifty-two week low of $161.30 and a fifty-two week high of $276.09. The stock’s 50-day moving average price is $258.15. The company has a market capitalization of $29.15 billion, a price-to-earnings ratio of 40.10, a P/E/G ratio of 1.45 and a beta of 1.02. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.03.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 22nd. The transportation company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.58 by $0.12. Old Dominion Freight Line had a net margin of 17.79% and a return on equity of 23.32%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted $1.11 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line will post 7.9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 16th. Stockholders of record on Wednesday, June 2nd were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Tuesday, June 1st. Old Dominion Freight Line’s dividend payout ratio is 14.08%.

Large investors have recently added to or reduced their stakes in the company. Middleton & Co Inc MA bought a new position in shares of Old Dominion Freight Line in the first quarter valued at approximately $4,957,000. Handelsbanken Fonder AB increased its position in Old Dominion Freight Line by 2.0% during the fourth quarter. Handelsbanken Fonder AB now owns 25,192 shares of the transportation company’s stock worth $4,917,000 after acquiring an additional 500 shares during the period. Chesley Taft & Associates LLC bought a new position in Old Dominion Freight Line during the first quarter worth $1,871,000. Brinker Capital Investments LLC bought a new position in Old Dominion Freight Line during the first quarter worth $5,731,000. Finally, State of Tennessee Treasury Department increased its position in Old Dominion Freight Line by 25.9% during the first quarter. State of Tennessee Treasury Department now owns 29,733 shares of the transportation company’s stock worth $7,148,000 after acquiring an additional 6,117 shares during the period. 70.04% of the stock is currently 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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