Old Dominion Freight Line (NASDAQ:ODFL) Price Target Cut to $160.00 by Analysts at Wells Fargo & Company

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective decreased by Wells Fargo & Company from $185.00 to $160.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the transportation company’s stock.

A number of other research firms also recently commented on ODFL. The Goldman Sachs Group increased their target price on Old Dominion Freight Line from $213.00 to $235.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Citigroup reduced their price objective on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Susquehanna reiterated a “neutral” rating and set a $195.00 target price (down previously from $218.00) on shares of Old Dominion Freight Line in a research note on Tuesday, January 7th. StockNews.com raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Old Dominion Freight Line from $186.00 to $205.00 and gave the company a “neutral” rating in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Old Dominion Freight Line presently has a consensus rating of “Hold” and an average price target of $201.40.

Old Dominion Freight Line Trading Up 0.9 %

ODFL opened at $170.23 on Thursday. The stock has a market capitalization of $36.18 billion, a PE ratio of 31.06, a P/E/G ratio of 2.89 and a beta of 1.10. 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 $157.67 and a 12-month high of $233.26. The firm’s fifty day moving average price is $183.12 and its 200 day moving average price is $193.71.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, beating 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, 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. 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. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 18.98%.

Institutional Investors Weigh In On Old Dominion Freight Line

Institutional investors have recently added to or reduced their stakes in the company. Avanza Fonder AB bought a new stake in shares of Old Dominion Freight Line in the 4th quarter worth $3,741,000. AustralianSuper Pty Ltd acquired a new position in Old Dominion Freight Line during the fourth quarter worth about $128,221,000. Toronto Dominion Bank raised its position in Old Dominion Freight Line by 77.7% in the third quarter. Toronto Dominion Bank now owns 98,061 shares of the transportation company’s stock worth $19,479,000 after acquiring an additional 42,880 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in Old Dominion Freight Line in the fourth quarter worth about $630,000. Finally, Board of the Pension Protection Fund acquired a new stake in Old Dominion Freight Line in the 4th quarter valued at about $600,000. 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.