Argus initiated coverage on shares of Old Dominion Freight Line (NASDAQ:ODFL) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $175.00 target price on the transportation company’s stock.
Other research analysts have also recently issued research reports about the stock. Buckingham Research increased their target price on shares of Old Dominion Freight Line from $144.00 to $153.00 and gave the stock a neutral rating in a report on Friday, February 9th. Cowen reissued a market perform rating and issued a $136.00 target price (up previously from $113.00) on shares of Old Dominion Freight Line in a report on Thursday, February 8th. ValuEngine raised shares of Old Dominion Freight Line from a hold rating to a buy rating in a report on Tuesday, April 3rd. Zacks Investment Research cut shares of Old Dominion Freight Line from a buy rating to a hold rating in a report on Wednesday, April 25th. Finally, Goldman Sachs Group began coverage on shares of Old Dominion Freight Line in a report on Tuesday, April 10th. They issued a neutral rating and a $144.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $142.00.
Old Dominion Freight Line opened at $149.91 on Wednesday, Marketbeat reports. The stock has a market capitalization of $12.19 billion, a PE ratio of 34.38, a P/E/G ratio of 0.99 and a beta of 1.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.78 and a quick ratio of 1.78. Old Dominion Freight Line has a 12 month low of $87.74 and a 12 month high of $152.50.
Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, April 26th. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. The firm had revenue of $925.02 million during the quarter, compared to analysts’ expectations of $925.83 million. Old Dominion Freight Line had a net margin of 14.38% and a return on equity of 18.47%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. analysts anticipate that Old Dominion Freight Line will post 6.4 EPS for the current year.
Old Dominion Freight Line declared that its board has initiated a stock buyback plan on Thursday, May 17th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the transportation company to buy up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Stockholders of record on Wednesday, June 6th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Tuesday, June 5th. Old Dominion Freight Line’s dividend payout ratio is currently 11.93%.
Several institutional investors have recently added to or reduced their stakes in ODFL. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $132,000. Captrust Financial Advisors acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $138,000. Coldstream Capital Management Inc. acquired a new position in shares of Old Dominion Freight Line in the first quarter valued at approximately $204,000. Telemus Capital LLC acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $207,000. Finally, Stephens Inc. AR acquired a new position in shares of Old Dominion Freight Line in the fourth quarter valued at approximately $209,000. 74.57% of the stock is owned by institutional investors.
Old Dominion Freight Line Company Profile
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 ground and air expedited transportation, and consumer household pickup and delivery. The company also offers various value-added services comprising container drayage, truckload brokerage, supply chain consulting, and warehousing.
Receive News & Ratings for Old Dominion Freight Line Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line and related companies with MarketBeat.com's FREE daily email newsletter.