Analysts Set Expectations for Old Dominion Freight Line, Inc.’s Q3 2017 Earnings (NASDAQ:ODFL)

Old Dominion Freight Line, Inc. (NASDAQ:ODFL) – Equities researchers at Seaport Global Securities boosted their Q3 2017 earnings estimates for shares of Old Dominion Freight Line in a report issued on Friday. Seaport Global Securities analyst R. Wood now forecasts that the transportation company will earn $1.14 per share for the quarter, up from their prior forecast of $1.10. Seaport Global Securities also issued estimates for Old Dominion Freight Line’s Q4 2017 earnings at $0.99 EPS, FY2017 earnings at $4.12 EPS, Q1 2018 earnings at $0.93 EPS, Q2 2018 earnings at $1.28 EPS, Q3 2018 earnings at $1.29 EPS, Q4 2018 earnings at $1.15 EPS and FY2018 earnings at $4.65 EPS.

ODFL has been the subject of a number of other reports. Credit Suisse Group restated an “outperform” rating and issued a $109.00 target price (up 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. Zacks Investment Research upgraded Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Cowen and Company lifted their price objective on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Finally, Vertical Research reiterated 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $97.67.

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Shares of Old Dominion Freight Line (ODFL) opened at 95.91 on Monday. The firm has a 50-day moving average of $96.31 and a 200-day moving average of $90.04. Old Dominion Freight Line has a one year low of $66.33 and a one year high of $103.51. The firm has a market capitalization of $7.90 billion, a P/E ratio of 24.84 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The company had revenue of $839.90 million during the quarter, compared to the consensus estimate of $824.68 million. During the same period in the prior year, the company earned $0.98 EPS. Old Dominion Freight Line’s revenue was up 11.2% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in ODFL. 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 worth $462,150,000 after buying an additional 5,353,843 shares during the last quarter. Janus Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 1.0% in the first quarter. Janus Capital Management LLC now owns 2,789,817 shares of the transportation company’s stock worth $238,725,000 after buying an additional 27,397 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of 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 worth $166,226,000 after buying an additional 130,065 shares during the period. State Street Corp boosted its position in shares of Old Dominion Freight Line by 1.5% in the first quarter. State Street Corp now owns 1,829,413 shares of the transportation company’s stock worth $156,542,000 after buying an additional 26,670 shares during the period. Finally, SPF Beheer BV boosted its position in shares of Old Dominion Freight Line by 2.1% in the second quarter. SPF Beheer BV now owns 772,544 shares of the transportation company’s stock worth $73,577,000 after buying an additional 15,748 shares during the period. Hedge funds and other institutional investors own 74.89% of the company’s stock.

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.

Earnings History and Estimates for Old Dominion Freight Line (NASDAQ:ODFL)

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