Susquehanna Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $171.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price target lowered by Susquehanna from $210.00 to $171.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

ODFL has been the topic of several other research reports. Morgan Stanley lifted their target price 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. Deutsche Bank Aktiengesellschaft started coverage on Old Dominion Freight Line in a report on Friday, March 7th. They issued a “buy” rating and a $236.00 price target for the company. Jefferies Financial Group raised their price objective on shares of Old Dominion Freight Line from $185.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company dropped their target price on shares of Old Dominion Freight Line from $185.00 to $160.00 and set an “underweight” rating for the company in a research report on Thursday, March 27th. Finally, Stifel Nicolaus upgraded shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating and lifted their target price for the company from $193.00 to $200.00 in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $199.70.

Old Dominion Freight Line Stock Performance

Shares of ODFL opened at $170.10 on Monday. Old Dominion Freight Line has a 52 week low of $157.67 and a 52 week high of $233.26. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $36.15 billion, a PE ratio of 31.04, a PEG ratio of 2.89 and a beta of 1.10. The company’s 50 day moving average price is $181.30 and its 200 day moving average price is $193.06.

Old Dominion Freight Line (NASDAQ:ODFL) last announced 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 return on equity of 28.02% and a net margin of 20.40%. Research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.28 dividend. The ex-dividend date was Wednesday, March 5th. This is a positive change from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 0.66%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 18.98%.

Institutional Trading of Old Dominion Freight Line

A number of large investors have recently made changes to their positions in the company. Public Sector Pension Investment Board increased its holdings in shares of Old Dominion Freight Line by 62.7% in the third quarter. Public Sector Pension Investment Board now owns 7,266 shares of the transportation company’s stock worth $1,443,000 after acquiring an additional 2,800 shares in the last quarter. Hantz Financial Services Inc. lifted its position in Old Dominion Freight Line by 3.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 1,513 shares of the transportation company’s stock worth $301,000 after buying an additional 56 shares in the last quarter. Captrust Financial Advisors grew its holdings in shares of Old Dominion Freight Line by 1.7% in the 3rd quarter. Captrust Financial Advisors now owns 7,502 shares of the transportation company’s stock valued at $1,490,000 after acquiring an additional 124 shares in the last quarter. Wasatch Advisors LP raised its stake in shares of Old Dominion Freight Line by 12.0% during the 3rd quarter. Wasatch Advisors LP now owns 6,885 shares of the transportation company’s stock worth $1,368,000 after purchasing an additional 740 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in Old Dominion Freight Line during the third quarter worth about $4,402,000. Institutional investors own 77.82% of the company’s stock.

About Old Dominion Freight Line

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.