Old Dominion Freight Line (NASDAQ:ODFL)’s share price reached a new 52-week high on Thursday . The company traded as high as $208.37 and last traded at $208.20, with a volume of 15492 shares. The stock had previously closed at $206.07.
A number of research firms have weighed in on ODFL. Stephens set a $203.00 target price on Old Dominion Freight Line and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America increased their price objective on Old Dominion Freight Line from $172.00 to $175.00 and gave the company an “underperform” rating in a report on Wednesday, December 4th. KeyCorp reiterated an “overweight” rating on shares of Old Dominion Freight Line in a report on Friday, October 25th. Zacks Investment Research lowered Old Dominion Freight Line from a “hold” rating to a “sell” rating and set a $213.00 price objective for the company. in a report on Tuesday. Finally, BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $172.69.
The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average of $189.58 and a 200-day moving average of $174.67. The stock has a market capitalization of $16.28 billion, a price-to-earnings ratio of 28.23, a P/E/G ratio of 2.94 and a beta of 1.49.
Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, October 24th. The transportation company reported $2.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.06). Old Dominion Freight Line had a net margin of 15.29% and a return on equity of 22.62%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the previous year, the company earned $2.12 earnings per share. Old Dominion Freight Line’s revenue was down .9% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line will post 7.65 EPS for the current year.
In related news, Chairman Earl E. Congdon sold 23,500 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $181.94, for a total value of $4,275,590.00. Following the transaction, the chairman now directly owns 10,854 shares of the company’s stock, valued at approximately $1,974,776.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. CSat Investment Advisory L.P. acquired a new stake in Old Dominion Freight Line during the 2nd quarter worth about $28,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Old Dominion Freight Line by 59.4% during the 3rd quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the transportation company’s stock worth $38,000 after acquiring an additional 85 shares in the last quarter. Squar Milner Financial Services LLC boosted its stake in shares of Old Dominion Freight Line by 311.8% during the 3rd quarter. Squar Milner Financial Services LLC now owns 280 shares of the transportation company’s stock worth $47,000 after acquiring an additional 212 shares in the last quarter. Cerebellum GP LLC purchased a new stake in shares of Old Dominion Freight Line during the 3rd quarter worth about $38,000. Finally, Capital Bank & Trust Co boosted its stake in shares of Old Dominion Freight Line by 22.9% during the 2nd quarter. Capital Bank & Trust Co now owns 509 shares of the transportation company’s stock worth $76,000 after acquiring an additional 95 shares in the last quarter. 75.53% of the stock is currently owned by institutional investors.
About Old Dominion Freight Line (NASDAQ:ODFL)
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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