Old Dominion Freight Line (NASDAQ:ODFL) Price Target Raised to $170.00 at Morgan Stanley

Old Dominion Freight Line (NASDAQ:ODFL) had its price target increased by Morgan Stanley from $165.00 to $170.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the transportation company’s stock.

ODFL has been the topic of a number of other reports. Wells Fargo & Company dropped their target price 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. Barclays reduced their price objective on Old Dominion Freight Line from $220.00 to $210.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. The Goldman Sachs Group upped their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Citigroup boosted their price objective on Old Dominion Freight Line from $201.00 to $241.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, Stephens reiterated an “overweight” rating and issued a $240.00 target price on shares of Old Dominion Freight Line in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $203.33.

Old Dominion Freight Line Price Performance

Shares of NASDAQ:ODFL opened at $195.88 on Thursday. The stock has a market cap of $41.82 billion, a price-to-earnings ratio of 34.24, a PEG ratio of 4.95 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 12 month low of $165.49 and a 12 month high of $233.26. The stock’s 50 day moving average price is $190.65 and its 200 day moving average price is $197.69.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Wednesday, February 5th. The transportation company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 29.40% and a net margin of 21.03%. Equities research analysts anticipate that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. 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 0.57%. The ex-dividend date of this dividend is Wednesday, March 5th. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.18%.

Hedge Funds Weigh In On Old Dominion Freight Line

Several large investors have recently made changes to their positions in the business. Whipplewood Advisors LLC acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth approximately $35,000. Synergy Asset Management LLC bought a new position in Old Dominion Freight Line during the fourth quarter worth $41,000. RPg Family Wealth Advisory LLC acquired a new position in Old Dominion Freight Line during the 3rd quarter valued at $45,000. Brown Brothers Harriman & Co. boosted its holdings in Old Dominion Freight Line by 398.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 269 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 215 shares during the period. Finally, Versant Capital Management Inc grew its position in Old Dominion Freight Line by 45.5% in the 4th quarter. Versant Capital Management Inc now owns 352 shares of the transportation company’s stock worth $62,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds 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.