Old Dominion Freight Line (NASDAQ:ODFL) Given New $190.00 Price Target at Raymond James

Old Dominion Freight Line (NASDAQ:ODFL) had its target price decreased by Raymond James from $215.00 to $190.00 in a report released on Monday morning, Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird raised shares of Old Dominion Freight Line from a neutral rating to an outperform rating and set a $205.00 price target on the stock in a research report on Wednesday, May 8th. Vertical Research raised shares of Old Dominion Freight Line from a sell rating to a hold rating and set a $175.00 price target on the stock in a research report on Monday, April 29th. Barclays reduced their price target 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 report on Wednesday, June 12th. TD Cowen reduced their price target on shares of Old Dominion Freight Line from $209.00 to $206.00 and set a hold rating on the stock in a research report on Friday, April 26th. Finally, Wells Fargo & Company initiated coverage on shares of Old Dominion Freight Line in a research report on Friday, June 7th. They set an underweight rating and a $175.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Old Dominion Freight Line currently has an average rating of Hold and a consensus price target of $202.71.

Old Dominion Freight Line Price Performance

Shares of ODFL stock opened at $176.07 on Monday. Old Dominion Freight Line has a 52-week low of $163.30 and a 52-week high of $227.80. The stock has a market cap of $38.26 billion, a PE ratio of 31.00, a PEG ratio of 2.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.29 and a current ratio of 2.29. The firm’s 50 day moving average price is $182.11 and its two-hundred day moving average price is $200.53.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data 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. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Old Dominion Freight Line had a net margin of 21.19% and a return on equity of 30.12%. As a group, analysts forecast that Old Dominion Freight Line will post 5.98 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Wednesday, June 5th were paid a $0.26 dividend. 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 currently 18.31%.

Institutional Investors Weigh In On Old Dominion Freight Line

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ODFL. Vanguard Group Inc. increased its stake in Old Dominion Freight Line by 100.9% in the 1st quarter. Vanguard Group Inc. now owns 21,795,649 shares of the transportation company’s stock valued at $4,780,004,000 after buying an additional 10,944,520 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Old Dominion Freight Line by 117.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,726,847 shares of the transportation company’s stock worth $3,010,435,000 after purchasing an additional 7,401,526 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Old Dominion Freight Line by 94.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,940,385 shares of the transportation company’s stock worth $1,302,786,000 after purchasing an additional 2,888,205 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Old Dominion Freight Line by 59.0% during the 1st quarter. Capital Research Global Investors now owns 6,592,594 shares of the transportation company’s stock worth $1,445,822,000 after purchasing an additional 2,447,121 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of Old Dominion Freight Line by 101.0% during the 1st quarter. Capital World Investors now owns 2,443,770 shares of the transportation company’s stock worth $535,943,000 after purchasing an additional 1,228,116 shares during the last quarter. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.