Old Dominion Freight Line (NASDAQ:ODFL) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a report published on Friday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $236.00 price objective on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the company. Stephens reissued an “overweight” rating and issued a $240.00 price target on shares of Old Dominion Freight Line in a report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on Old Dominion Freight Line from $186.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Wells Fargo & Company decreased their target price on Old Dominion Freight Line from $195.00 to $185.00 and set an “underweight” rating for the company in a report on Tuesday, January 7th. Argus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Citigroup decreased their target price on Old Dominion Freight Line from $205.00 to $186.00 and set a “neutral” rating for the company in a report on Tuesday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $202.53.

Old Dominion Freight Line Price Performance

Shares of NASDAQ ODFL opened at $179.55 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $38.16 billion, a PE ratio of 32.76, a P/E/G ratio of 2.89 and a beta of 1.10. The business has a 50-day simple moving average of $187.10 and a two-hundred day simple moving average of $196.65. Old Dominion Freight Line has a fifty-two week low of $165.49 and a fifty-two week high of $233.26.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Wednesday, February 5th. The transportation company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Old Dominion Freight Line had a return on equity of 28.02% and a net margin of 20.40%. As a group, equities analysts expect that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from Old Dominion Freight Line’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. Old Dominion Freight Line’s payout ratio is 18.98%.

Institutional Trading of Old Dominion Freight Line

A number of institutional investors and hedge funds have recently made changes to their positions in ODFL. Whipplewood Advisors LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $35,000. Itau Unibanco Holding S.A. increased its position in shares of Old Dominion Freight Line by 518.9% in the fourth quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock valued at $40,000 after buying an additional 192 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $41,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Old Dominion Freight Line in the third quarter valued at approximately $45,000. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $51,000. 77.82% of the stock is currently owned by hedge funds and other institutional investors.

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.