Old Dominion Freight Line, Inc. (NASDAQ:ODFL)‘s stock had its “hold” rating reaffirmed by equities research analysts at Stifel Nicolaus in a report issued on Friday, July 14th. They currently have a $91.00 target price on the transportation company’s stock. Stifel Nicolaus’ price target indicates a potential downside of 5.43% from the stock’s current price.
A number of other research analysts have also issued reports on the company. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Vertical Research reaffirmed a “hold” rating and set a $83.00 price target on shares of Old Dominion Freight Line in a report on Thursday, April 13th. Cowen and Company lifted their price target on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a report on Thursday, April 27th. Finally, Bank of America Corporation raised Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $83.00 to $96.00 in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $97.67.
Old Dominion Freight Line (ODFL) opened at 96.22 on Friday. Old Dominion Freight Line has a one year low of $66.33 and a one year high of $103.51. The company has a 50 day moving average of $96.30 and a 200-day moving average of $90.08. The stock has a market capitalization of $7.92 billion, a P/E ratio of 24.92 and a beta of 1.08.
Old Dominion Freight Line (NASDAQ:ODFL) last posted its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.09. The company had revenue of $839.90 million during the quarter, compared to analysts’ expectations of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Equities research analysts predict that Old Dominion Freight Line will post $4.14 earnings per share for the current fiscal year.
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Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of 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. William Blair Investment Management LLC raised its stake in shares of Old Dominion Freight Line by 7.9% in the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock valued at $250,063,000 after buying an additional 191,911 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of 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 stake in shares of 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. Finally, Scopus Asset Management L.P. raised its stake in shares of 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. 74.89% 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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