Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $164.00 at UBS Group

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective boosted by UBS Group from $155.00 to $164.00 in a research report sent to investors on Friday morning, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Several other brokerages also recently commented on ODFL. Stifel Nicolaus reduced their price objective on shares of Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, July 31st. TD Cowen reduced their price objective on shares of Old Dominion Freight Line from $166.00 to $159.00 and set a “hold” rating for the company in a research report on Thursday, July 31st. Morgan Stanley reduced their price objective on shares of Old Dominion Freight Line from $170.00 to $165.00 and set an “equal weight” rating for the company in a research report on Thursday, July 31st. Truist Financial increased their target price on Old Dominion Freight Line from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Monday, June 30th. Finally, Vertical Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $166.52.

Old Dominion Freight Line Stock Performance

Shares of ODFL stock opened at $141.33 on Friday. The company has a market cap of $29.70 billion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 3.28 and a beta of 1.19. Old Dominion Freight Line has a 52 week low of $133.69 and a 52 week high of $233.26. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $147.58 and a 200-day moving average of $156.65.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.02). The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.43 billion. Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The business’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. On average, equities analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.28 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a yield of 0.8%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 21.88%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently bought and sold shares of ODFL. Norges Bank bought a new stake in shares of Old Dominion Freight Line during the 2nd quarter worth $371,961,000. T. Rowe Price Investment Management Inc. raised its stake in shares of Old Dominion Freight Line by 79.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after purchasing an additional 1,151,221 shares during the period. Nuveen LLC bought a new stake in shares of Old Dominion Freight Line during the 1st quarter worth $151,107,000. JPMorgan Chase & Co. raised its stake in shares of Old Dominion Freight Line by 45.1% during the 1st quarter. JPMorgan Chase & Co. now owns 2,429,750 shares of the transportation company’s stock worth $402,002,000 after purchasing an additional 754,796 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Old Dominion Freight Line by 63.8% during the 2nd quarter. First Trust Advisors LP now owns 1,521,054 shares of the transportation company’s stock worth $246,867,000 after purchasing an additional 592,605 shares during the period. 77.82% 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 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.