According to Zacks, “Old Dominion Freight Line, Inc. is an inter-regional and multi-regional motor carrier transporting primarily less-than-truckload shipments of general commodities, including consumer goods, textiles and capital goods to a diversified customer base. “
A number of other analysts also recently weighed in on ODFL. Cowen and Company raised their price target on shares of Old Dominion Freight Line from $63.00 to $73.00 and gave the stock a market perform rating in a research report on Thursday, July 28th. Deutsche Bank AG lifted their price objective on shares of Old Dominion Freight Line from $67.00 to $71.00 and gave the stock a hold rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $68.00.
Shares of Old Dominion Freight Line (NASDAQ:ODFL) traded down 0.54% during mid-day trading on Tuesday, hitting $70.19. 22,822 shares of the stock traded hands. The stock has a 50-day moving average of $69.05 and a 200 day moving average of $66.25. The stock has a market cap of $5.82 billion, a PE ratio of 19.87 and a beta of 1.24. Old Dominion Freight Line has a one year low of $48.92 and a one year high of $72.45.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. Old Dominion Freight Line had a net margin of 10.02% and a return on equity of 17.61%. The business earned $755.40 million during the quarter, compared to the consensus estimate of $754.33 million. During the same quarter last year, the company earned $1.00 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Equities analysts predict that Old Dominion Freight Line will post $3.55 EPS for the current fiscal year.
In other Old Dominion Freight Line news, Vice Chairman David S. Congdon sold 1,660 shares of the firm’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $69.77, for a total value of $115,818.20. Following the sale, the insider now directly owns 5,334 shares in the company, valued at $372,153.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey W. Congdon sold 24,555 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $69.84, for a total value of $1,714,921.20. The disclosure for this sale can be found here. 14.60% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. M&T Bank Corp boosted its stake in Old Dominion Freight Line by 29.2% in the first quarter. M&T Bank Corp now owns 5,352 shares of the company’s stock worth $373,000 after buying an additional 1,210 shares during the last quarter. Royce & Associates LP bought a new stake in Old Dominion Freight Line during the first quarter worth about $8,800,000. Palisade Capital Management LLC NJ boosted its stake in Old Dominion Freight Line by 33.4% in the first quarter. Palisade Capital Management LLC NJ now owns 316,642 shares of the company’s stock worth $22,045,000 after buying an additional 79,262 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Old Dominion Freight Line during the first quarter worth about $1,121,000. Finally, JPMorgan Chase & Co. boosted its stake in Old Dominion Freight Line by 13.1% in the first quarter. JPMorgan Chase & Co. now owns 2,210,333 shares of the company’s stock worth $153,884,000 after buying an additional 255,942 shares during the last quarter. Institutional investors own 76.82% of the company’s stock.
Old Dominion Freight Line Company Profile
Old Dominion Freight Line, Inc is a less-than-truckload (LTL), union-free motor carrier company. The Company provides regional, inter-regional and national LTL services, which include ground and air expedited transportation, and consumer household pickup and delivery. The Company offers a range of other services that include container drayage, truckload brokerage, supply chain consulting and warehousing.
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