UBS Group Issues Positive Forecast for Old Dominion Freight Line (NASDAQ:ODFL) Stock Price

Old Dominion Freight Line (NASDAQ:ODFL) had its price target raised by UBS Group from $155.00 to $164.00 in a research note published on Friday, Marketbeat reports. UBS Group currently has a neutral rating on the transportation company’s stock.

Several other equities research analysts have also weighed in on ODFL. Stifel Nicolaus decreased their price objective on Old Dominion Freight Line from $183.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, July 31st. Susquehanna lifted their target price on Old Dominion Freight Line from $155.00 to $156.00 and gave the company a “neutral” rating in a report on Wednesday, September 10th. Evercore ISI reduced their target price on Old Dominion Freight Line from $155.00 to $143.00 and set an “in-line” rating for the company in a report on Tuesday. Truist Financial lifted their target price on Old Dominion Freight Line from $175.00 to $180.00 and gave the company a “buy” rating in a report on Monday, June 30th. Finally, Baird R W raised Old Dominion Freight Line to a “hold” rating in a report on Tuesday, July 1st. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $166.52.

Old Dominion Freight Line Trading Up 0.5%

Shares of ODFL opened at $141.33 on Friday. The business has a 50-day moving average of $147.58 and a 200 day moving average of $156.65. Old Dominion Freight Line has a fifty-two week low of $133.69 and a fifty-two week high of $233.26. The firm has a market cap of $29.70 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 3.28 and a beta of 1.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.38 and a current ratio of 1.38.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Wednesday, July 30th. The transportation company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.02). Old Dominion Freight Line had a return on equity of 25.94% and a net margin of 19.42%.The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same period last year, the business posted $1.48 EPS. The company’s revenue was down 6.1% compared to the same quarter last year. As a group, research analysts forecast that Old Dominion Freight Line will post 5.68 EPS for the current year.

Old Dominion Freight Line Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Old Dominion Freight Line’s payout ratio is presently 21.88%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Old Dominion Freight Line by 0.4% during the second quarter. Vanguard Group Inc. now owns 22,758,247 shares of the transportation company’s stock worth $3,693,663,000 after purchasing an additional 91,842 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Old Dominion Freight Line by 1.3% during the first quarter. Invesco Ltd. now owns 4,272,231 shares of the transportation company’s stock worth $706,841,000 after purchasing an additional 53,079 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Old Dominion Freight Line by 20.3% during the second quarter. JPMorgan Chase & Co. now owns 2,922,313 shares of the transportation company’s stock worth $474,292,000 after purchasing an additional 492,563 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Old Dominion Freight Line by 79.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,599,005 shares of the transportation company’s stock worth $430,006,000 after buying an additional 1,151,221 shares during the last quarter. Finally, Norges Bank bought a new stake in Old Dominion Freight Line in the 2nd quarter worth approximately $371,961,000. Hedge funds and other 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.