Susquehanna Raises Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $515.00

Old Dominion Freight Line (NASDAQ:ODFLFree Report) had its price target raised by Susquehanna from $465.00 to $515.00 in a research report report published on Thursday, Benzinga reports. Susquehanna currently has a positive rating on the transportation company’s stock.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut Old Dominion Freight Line from a buy rating to a hold rating and decreased their price target for the company from $475.00 to $386.00 in a report on Monday, November 27th. Morgan Stanley lifted their target price on Old Dominion Freight Line from $358.00 to $360.00 and gave the stock an equal weight rating in a report on Thursday, October 26th. Stifel Nicolaus lifted their target price on Old Dominion Freight Line from $416.00 to $434.00 and gave the stock a buy rating in a report on Wednesday, January 10th. Raymond James reduced their target price on Old Dominion Freight Line from $425.00 to $415.00 and set an outperform rating on the stock in a report on Monday, December 11th. Finally, Citigroup dropped their price target on Old Dominion Freight Line from $450.00 to $420.00 and set a neutral rating for the company in a research report on Thursday, October 26th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $422.20.

Check Out Our Latest Analysis on Old Dominion Freight Line

Old Dominion Freight Line Price Performance

Shares of Old Dominion Freight Line stock opened at $435.33 on Thursday. Old Dominion Freight Line has a one year low of $295.80 and a one year high of $448.45. The stock’s fifty day moving average is $397.01 and its 200 day moving average is $402.55. The stock has a market cap of $47.50 billion, a P/E ratio of 38.66, a P/E/G ratio of 3.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.73 and a current ratio of 2.10.

Old Dominion Freight Line (NASDAQ:ODFLGet Free Report) last announced its earnings results on Wednesday, January 31st. The transportation company reported $2.94 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.08. Old Dominion Freight Line had a return on equity of 31.18% and a net margin of 21.13%. The company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $2.92 EPS. Old Dominion Freight Line’s revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts anticipate that Old Dominion Freight Line will post 12.91 earnings per share for the current year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th will be paid a $0.52 dividend. This is an increase from Old Dominion Freight Line’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $2.08 dividend on an annualized basis and a yield of 0.48%. Old Dominion Freight Line’s payout ratio is 18.47%.

Hedge Funds Weigh In On Old Dominion Freight Line

A number of large investors have recently bought and sold shares of ODFL. Bank of New York Mellon Corp increased its position in shares of Old Dominion Freight Line by 64.8% during the second quarter. Bank of New York Mellon Corp now owns 3,599,786 shares of the transportation company’s stock worth $1,331,021,000 after purchasing an additional 1,415,329 shares in the last quarter. Norges Bank acquired a new position in shares of Old Dominion Freight Line during the fourth quarter worth $495,387,000. Osaic Holdings Inc. increased its position in shares of Old Dominion Freight Line by 1,823.4% during the second quarter. Osaic Holdings Inc. now owns 1,000,632 shares of the transportation company’s stock worth $17,681,000 after purchasing an additional 948,609 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Old Dominion Freight Line by 39,016.7% during the fourth quarter. International Assets Investment Management LLC now owns 705,274 shares of the transportation company’s stock worth $285,869,000 after purchasing an additional 703,471 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Old Dominion Freight Line by 117.6% during the second quarter. Goldman Sachs Group Inc. now owns 761,387 shares of the transportation company’s stock worth $195,129,000 after purchasing an additional 411,516 shares in the last quarter. Institutional investors own 72.14% of the company’s stock.

Old Dominion Freight Line Company Profile

(Get Free Report)

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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