Old Dominion Freight Line (NASDAQ:ODFL) Given New $165.00 Price Target at Jefferies Financial Group

Old Dominion Freight Line (NASDAQ:ODFL) had its price target trimmed by Jefferies Financial Group from $195.00 to $165.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the transportation company’s stock.

Several other analysts have also recently issued reports on ODFL. The Goldman Sachs Group upped their price objective on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. StockNews.com cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating in a report on Saturday, March 29th. Truist Financial initiated coverage on Old Dominion Freight Line in a research note on Thursday, March 13th. They issued a “buy” rating and a $220.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price target on the stock. Finally, Stifel Nicolaus upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and upped their price objective for the stock from $193.00 to $200.00 in a research note on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $195.75.

Old Dominion Freight Line Stock Down 2.9 %

Shares of NASDAQ:ODFL opened at $152.23 on Wednesday. The stock has a 50-day simple moving average of $175.40 and a 200-day simple moving average of $190.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. Old Dominion Freight Line has a 1 year low of $145.79 and a 1 year high of $233.26. The stock has a market capitalization of $32.36 billion, a P/E ratio of 27.78, a PEG ratio of 2.89 and a beta of 1.25.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. Equities analysts forecast that Old Dominion Freight Line will post 5.68 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 0.74%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. American National Bank & Trust purchased a new stake in Old Dominion Freight Line in the 1st quarter valued at $30,000. Whipplewood Advisors LLC purchased a new position in Old Dominion Freight Line during the fourth quarter worth about $35,000. Itau Unibanco Holding S.A. grew its position in Old Dominion Freight Line by 518.9% in the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after purchasing an additional 192 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in Old Dominion Freight Line in the 4th quarter valued at about $41,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $51,000. 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.