BidaskClub cut shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) from a strong-buy rating to a buy rating in a report published on Monday, July 24th.
A number of other analysts also recently commented on ODFL. Zacks Investment Research raised shares of Old Dominion Freight Line from a sell rating to a hold rating in a report on Tuesday, April 4th. Vertical Research restated a hold rating and set a $83.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 13th. Cowen and Company lifted their target price on shares of Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a market perform rating in a research report on Thursday, April 27th. Bank of America Corporation raised shares of Old Dominion Freight Line from an underperform rating to a neutral rating and boosted their price objective for the company from $83.00 to $96.00 in a research report on Tuesday, June 6th. Finally, Credit Suisse Group reissued an outperform rating and issued a $109.00 price objective (up previously from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $97.67.
Old Dominion Freight Line (NASDAQ ODFL) traded up 1.05% on Monday, reaching $96.28. The company’s stock had a trading volume of 378,644 shares. Old Dominion Freight Line has a one year low of $66.33 and a one year high of $103.51. The company has a market capitalization of $7.93 billion, a PE ratio of 24.94 and a beta of 1.08. The firm has a 50-day moving average of $96.79 and a 200-day moving average of $90.51.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million for the quarter, compared to the consensus estimate of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Analysts predict that Old Dominion Freight Line will post $4.14 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.40 dividend on an annualized basis and a yield of 0.42%. Old Dominion Freight Line’s dividend payout ratio (DPR) is 10.39%.
Several hedge funds have recently modified their holdings of the company. First Citizens Bank & Trust Co. acquired a new stake in shares of Old Dominion Freight Line during the first quarter worth $311,000. Fisher Asset Management LLC boosted its stake in Old Dominion Freight Line by 2.3% in the first quarter. Fisher Asset Management LLC now owns 5,877 shares of the transportation company’s stock worth $503,000 after buying an additional 130 shares during the period. Covenant Asset Management LLC purchased a new stake in Old Dominion Freight Line during the first quarter worth $1,221,000. Dalton Greiner Hartman Maher & Co. boosted its stake in Old Dominion Freight Line by 2.4% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 232,484 shares of the transportation company’s stock worth $19,894,000 after buying an additional 5,483 shares during the period. Finally, Cim LLC boosted its stake in Old Dominion Freight Line by 4.8% in the first quarter. Cim LLC now owns 5,669 shares of the transportation company’s stock worth $485,000 after buying an additional 262 shares during the period. 75.07% of the stock is currently owned by institutional investors.
Old Dominion Freight Line Company Profile
Old Dominion Freight Line, Inc is a union-free motor carrier providing regional, inter-regional and national less-than-truckload (LTL) services. The Company’s LTL services include ground and air expedited transportation for time-sensitive shipments, consumer household pickup and delivery and freight delivery services throughout North America.
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