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

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

ODFL has been the subject of several other reports. Argus lowered Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Robert W. Baird cut their price target on shares of Old Dominion Freight Line from $204.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Citigroup boosted their price target on shares of Old Dominion Freight Line from $201.00 to $241.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. TD Cowen dropped their price objective on shares of Old Dominion Freight Line from $203.00 to $196.00 and set a “hold” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company reduced their target price on 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. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $203.33.

Old Dominion Freight Line Trading Up 1.2 %

Shares of ODFL stock opened at $195.88 on Thursday. The firm has a fifty day moving average of $190.65 and a 200-day moving average of $197.69. The stock has a market cap of $41.82 billion, a price-to-earnings ratio of 34.24, a P/E/G ratio of 4.95 and a beta of 1.05. Old Dominion Freight Line has a 52-week low of $165.49 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.

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, topping analysts’ consensus estimates of $1.17 by $0.06. Old Dominion Freight Line had a net margin of 21.03% and a return on equity of 29.40%. On average, equities research analysts forecast that Old Dominion Freight Line will post 5.42 earnings per share for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.57%. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.26. Old Dominion Freight Line’s dividend payout ratio is 18.18%.

Institutional Investors Weigh In On Old Dominion Freight Line

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ODFL. SevenBridge Financial Group LLC grew its position in shares of Old Dominion Freight Line by 2.0% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,611 shares of the transportation company’s stock worth $519,000 after buying an additional 50 shares during the period. Advisors Asset Management Inc. raised its holdings in Old Dominion Freight Line by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 10,888 shares of the transportation company’s stock worth $2,163,000 after purchasing an additional 55 shares during the period. Hantz Financial Services Inc. boosted its position 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 worth $277,000 after purchasing an additional 55 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Old Dominion Freight Line by 1.9% in the 4th quarter. D.A. Davidson & CO. now owns 2,888 shares of the transportation company’s stock valued at $509,000 after buying an additional 55 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its stake in Old Dominion Freight Line by 0.7% during the 4th quarter. Kestra Private Wealth Services LLC now owns 9,454 shares of the transportation company’s stock worth $1,668,000 after buying an additional 62 shares during the period. 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.