Old Dominion Freight Line (NASDAQ:ODFL) Rating Increased to Buy at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Marketbeat reports. Stifel Nicolaus currently has $200.00 price objective on the transportation company’s stock, up from their previous price objective of $193.00.

ODFL has been the subject of a number of other research reports. The Goldman Sachs Group upped their price objective on shares of Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Stephens restated an “overweight” rating and set a $240.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, February 6th. StockNews.com upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Saturday, February 15th. Morgan Stanley lifted their price target on shares of Old Dominion Freight Line from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. Finally, Jefferies Financial Group upped their target price on Old Dominion Freight Line from $185.00 to $190.00 and gave the company a “hold” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Old Dominion Freight Line currently has a consensus rating of “Hold” and an average target price of $203.72.

Old Dominion Freight Line Stock Performance

NASDAQ ODFL opened at $181.97 on Monday. The company has a fifty day moving average of $188.62 and a two-hundred day moving average of $197.74. The company has a market capitalization of $38.85 billion, a PE ratio of 33.21, a P/E/G 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 has a 1 year low of $165.49 and a 1 year high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts expect 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 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 0.62%. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s payout ratio is currently 18.98%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ODFL. SevenBridge Financial Group LLC raised its stake in shares of Old Dominion Freight Line by 2.0% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock valued at $519,000 after purchasing an additional 50 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Old Dominion Freight Line by 0.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock valued at $2,163,000 after buying an additional 55 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Old Dominion Freight Line by 3.6% during the fourth quarter. Hantz Financial Services Inc. now owns 1,568 shares of the transportation company’s stock valued at $277,000 after purchasing an additional 55 shares during the last quarter. D.A. Davidson & CO. grew its stake in Old Dominion Freight Line by 1.9% during the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock worth $509,000 after buying an additional 55 shares during the last quarter. Finally, Evergreen Private Wealth LLC grew its position in shares of Old Dominion Freight Line by 0.9% during the fourth quarter. Evergreen Private Wealth LLC now owns 6,651 shares of the transportation company’s stock worth $1,173,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 77.82% of the company’s stock.

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.