Shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) have received an average rating of “Buy” from the ten ratings firms that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $96.78.
Several research analysts recently weighed in on the company. BidaskClub raised Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $83.00 to $96.00 in a research report on Tuesday, June 6th. Stifel Nicolaus reissued a “hold” rating and issued a $91.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, July 14th. Vertical Research reissued a “hold” rating and issued a $83.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, April 13th. Finally, Zacks Investment Research raised Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research report on Tuesday, July 11th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Old Dominion Freight Line by 11,389.2% in the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after buying an additional 5,353,843 shares during the period. Daiwa Securities Group Inc. raised its position in Old Dominion Freight Line by 8,727.8% in the first quarter. Daiwa Securities Group Inc. now owns 158,900 shares of the transportation company’s stock valued at $13,597,000 after buying an additional 157,100 shares during the period. AQR Capital Management LLC raised its position in Old Dominion Freight Line by 100.3% in the first quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock valued at $25,619,000 after buying an additional 149,951 shares during the period. Scopus Asset Management L.P. raised its position in Old Dominion Freight Line by 37.6% in the first quarter. Scopus Asset Management L.P. now owns 480,392 shares of the transportation company’s stock valued at $41,107,000 after buying an additional 131,330 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in Old Dominion Freight Line by 7.2% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,942,570 shares of the transportation company’s stock valued at $166,226,000 after buying an additional 130,065 shares during the period. 74.78% of the stock is currently owned by institutional investors.
Shares of Old Dominion Freight Line (NASDAQ ODFL) traded up 1.22% during midday trading on Friday, hitting $98.64. The stock had a trading volume of 522,147 shares. The stock has a market cap of $8.13 billion, a P/E ratio of 27.08 and a beta of 1.08. The stock has a 50-day moving average price of $95.56 and a 200-day moving average price of $89.61. Old Dominion Freight Line has a 12-month low of $66.33 and a 12-month high of $100.61.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, April 27th. The transportation company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.01. The business had revenue of $754.10 million for the quarter, compared to analyst estimates of $751.84 million. Old Dominion Freight Line had a return on equity of 16.52% and a net margin of 9.92%. The business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Equities analysts forecast that Old Dominion Freight Line will post $3.99 earnings per share for the current year.
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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