BidaskClub cut shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) from a strong-buy rating to a buy rating in a report released on Monday, July 24th.
ODFL has been the topic of several other research reports. Zacks Investment Research upgraded Old Dominion Freight Line from a sell rating to a hold rating in a report on Tuesday, April 4th. Vertical Research reiterated a hold rating and set a $83.00 price objective on shares of Old Dominion Freight Line in a report on Thursday, April 13th. Credit Suisse Group restated an outperform rating and issued a $109.00 target price (up previously from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Stifel Nicolaus restated a hold rating and issued a $91.00 target price on shares of Old Dominion Freight Line in a research note on Friday, July 14th. Finally, Cowen and Company boosted their target price on Old Dominion Freight Line from $88.00 to $92.00 and gave the company a market perform rating in a research note on Thursday, April 27th. 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’s stock. The company has an average rating of Hold and a consensus price target of $97.67.
Shares of Old Dominion Freight Line (NASDAQ:ODFL) opened at 96.28 on Monday. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 24.94 and a beta of 1.08. Old Dominion Freight Line has a 1-year low of $66.33 and a 1-year high of $103.51. The firm’s 50-day moving average is $96.79 and its 200-day moving average is $90.51.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data 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. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The business had revenue of $839.90 million for the quarter, compared to analysts’ expectations of $824.68 million. During the same quarter in the previous year, the business posted $0.98 EPS. Old Dominion Freight Line’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line will post $4.14 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio (DPR) is 10.39%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP acquired a new position in Old Dominion Freight Line during the fourth quarter worth $284,000. Teachers Advisors LLC raised its position in Old Dominion Freight Line by 40.9% in the fourth quarter. Teachers Advisors LLC now owns 84,079 shares of the transportation company’s stock worth $7,213,000 after buying an additional 24,415 shares during the last quarter. Bank of Montreal Can raised its position in Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock worth $3,469,000 after buying an additional 36,224 shares during the last quarter. Capstone Asset Management Co. raised its position in Old Dominion Freight Line by 2.1% in the first quarter. Capstone Asset Management Co. now owns 7,313 shares of the transportation company’s stock worth $626,000 after buying an additional 150 shares during the last quarter. Finally, Parametrica Management Ltd acquired a new position in Old Dominion Freight Line during the first quarter worth $286,000. 75.07% of the stock is currently owned by institutional investors and hedge funds.
About Old Dominion Freight Line
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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