Old Dominion Freight Line (NASDAQ:ODFL) Given a $144.00 Price Target by Morgan Stanley Analysts

Morgan Stanley set a $144.00 price target on Old Dominion Freight Line (NASDAQ:ODFL) in a report released on Monday, Stock Target Advisor reports. The brokerage currently has a hold rating on the transportation company’s stock.

Several other equities analysts have also recently issued reports on the stock. Mizuho began coverage on shares of Merck & Co., Inc. in a research note on Tuesday, July 2nd. They issued a buy rating and a $97.00 price objective on the stock. Zacks Investment Research cut shares of Ferroglobe from a hold rating to a sell rating in a research note on Monday, March 11th. Bank of America set a $7.00 price target on shares of CannTrust and gave the stock a buy rating in a research note on Thursday, June 20th. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research note on Monday, May 13th. Finally, Seaport Global Securities reaffirmed a neutral rating on shares of YRC Worldwide in a research note on Friday, April 5th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $148.45.

Shares of ODFL opened at $142.80 on Monday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.02. The firm has a market cap of $11.38 billion, a PE ratio of 19.35, a P/E/G ratio of 2.35 and a beta of 1.48. The firm has a fifty day moving average price of $141.82. Old Dominion Freight Line has a 1 year low of $115.00 and a 1 year high of $170.22.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, April 25th. The transportation company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.06. The company had revenue of $990.78 million for the quarter, compared to analysts’ expectations of $1 billion. Old Dominion Freight Line had a net margin of 15.32% and a return on equity of 23.87%. Old Dominion Freight Line’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.33 EPS. On average, sell-side analysts anticipate that Old Dominion Freight Line will post 7.96 EPS for the current fiscal year.

Old Dominion Freight Line announced that its board has authorized a share repurchase program on Thursday, May 16th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the transportation company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Tuesday, June 4th. Old Dominion Freight Line’s payout ratio is currently 9.21%.

Several hedge funds have recently added to or reduced their stakes in ODFL. Cordasco Financial Network grew its position in shares of Old Dominion Freight Line by 77.2% during the second quarter. Cordasco Financial Network now owns 179 shares of the transportation company’s stock worth $27,000 after buying an additional 78 shares in the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter worth approximately $36,000. JOYN Advisors Inc. grew its position in shares of Old Dominion Freight Line by 58.2% during the fourth quarter. JOYN Advisors Inc. now owns 299 shares of the transportation company’s stock worth $37,000 after buying an additional 110 shares in the last quarter. CWM LLC grew its position in shares of Old Dominion Freight Line by 42.5% during the first quarter. CWM LLC now owns 258 shares of the transportation company’s stock worth $37,000 after buying an additional 77 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth approximately $42,000. 71.24% of the stock is owned by institutional investors and hedge funds.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

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