Old Dominion Freight Line (NASDAQ:ODFL) Given New $186.00 Price Target at Citigroup

Old Dominion Freight Line (NASDAQ:ODFL) had its target price cut by Citigroup from $205.00 to $186.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other equities analysts also recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a report on Friday, January 10th. Susquehanna restated a “neutral” rating and set a $195.00 price objective (down previously from $218.00) on shares of Old Dominion Freight Line in a report on Tuesday, January 7th. StockNews.com upgraded shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Wells Fargo & Company cut their price target on shares of Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating on the stock in a report on Tuesday, January 7th. Finally, Argus cut shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $200.67.

Old Dominion Freight Line Stock Up 1.6 %

NASDAQ:ODFL opened at $174.99 on Tuesday. Old Dominion Freight Line has a 1-year low of $165.49 and a 1-year high of $233.26. The company has a 50-day moving average of $187.27 and a 200 day moving average of $196.93. The firm has a market cap of $37.19 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.33 and a quick ratio of 1.33.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 20.40% and a return on equity of 28.02%. As a group, research analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a yield of 0.64%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 18.98%.

Institutional Trading of Old Dominion Freight Line

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Cim LLC increased its position in shares of Old Dominion Freight Line by 2.6% during the 4th quarter. Cim LLC now owns 7,056 shares of the transportation company’s stock worth $1,245,000 after purchasing an additional 182 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Old Dominion Freight Line during the fourth quarter worth approximately $39,633,000. Jefferies Financial Group Inc. purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $1,127,000. Challenger Wealth Management purchased a new stake in Old Dominion Freight Line in the fourth quarter valued at approximately $233,000. Finally, Value Partners Investments Inc. lifted its stake in Old Dominion Freight Line by 2.4% in the fourth quarter. Value Partners Investments Inc. now owns 11,875 shares of the transportation company’s stock valued at $2,093,000 after buying an additional 277 shares during the last quarter. 77.82% of the stock is 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.