Susquehanna Cuts Old Dominion Freight Line (NASDAQ:ODFL) Price Target to $160.00

Old Dominion Freight Line (NASDAQ:ODFL) had its price objective trimmed by Susquehanna from $168.00 to $160.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the transportation company’s stock.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Friday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Old Dominion Freight Line from $174.00 to $158.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Truist Financial dropped their price objective on shares of Old Dominion Freight Line from $220.00 to $175.00 and set a “buy” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group raised shares of Old Dominion Freight Line from a “neutral” rating to a “buy” rating and upped their price objective for the company from $190.00 to $200.00 in a report on Monday, June 2nd. Finally, Raymond James Financial set a $185.00 price objective on shares of Old Dominion Freight Line and gave the company an “outperform” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $176.10.

Old Dominion Freight Line Price Performance

Old Dominion Freight Line stock opened at $156.03 on Wednesday. Old Dominion Freight Line has a 52-week low of $144.90 and a 52-week high of $233.26. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 3.22 and a beta of 1.26. The company has a fifty day simple moving average of $159.39 and a 200-day simple moving average of $174.82. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.01.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Wednesday, April 23rd. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.05. Old Dominion Freight Line had a net margin of 20.04% and a return on equity of 27.40%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the prior year, the firm earned $1.34 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Old Dominion Freight Line will post 5.68 EPS for the current fiscal year.

Old Dominion Freight Line Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.12 dividend on an annualized basis and a yield of 0.72%. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 21.01%.

Institutional Investors Weigh In On Old Dominion Freight Line

Hedge funds have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in Old Dominion Freight Line by 234.8% during the 1st quarter. Larson Financial Group LLC now owns 154 shares of the transportation company’s stock worth $25,000 after buying an additional 108 shares in the last quarter. American National Bank & Trust acquired a new stake in Old Dominion Freight Line during the 1st quarter worth approximately $30,000. Whipplewood Advisors LLC acquired a new stake in Old Dominion Freight Line during the 4th quarter worth approximately $35,000. Itau Unibanco Holding S.A. lifted its holdings in Old Dominion Freight Line by 518.9% during the 4th quarter. Itau Unibanco Holding S.A. now owns 229 shares of the transportation company’s stock worth $40,000 after buying an additional 192 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Old Dominion Freight Line during the 1st quarter worth approximately $39,000. 77.82% of the stock is currently owned by institutional investors and hedge funds.

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.