Old Dominion Freight Line, Inc. (ODFL) Downgraded by BidaskClub to “Buy”

BidaskClub cut shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) from a strong-buy rating to a buy rating in a research report released on Monday, July 24th.

Other analysts have also issued reports about the stock. Bank of America Corporation raised shares of Old Dominion Freight Line from an underperform rating to a neutral rating and boosted their target price for the company from $83.00 to $96.00 in a research note on Tuesday, June 6th. Stifel Nicolaus reiterated a hold rating and issued a $91.00 target price on shares of Old Dominion Freight Line in a report on Friday, July 14th. Zacks Investment Research upgraded Old Dominion Freight Line from a hold rating to a buy rating and set a $110.00 price target on the stock in a research note on Tuesday, July 11th. Vertical Research restated a hold rating and set a $83.00 price target on shares of Old Dominion Freight Line in a research note on Thursday, April 13th. Finally, Cowen and Company boosted their price target on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a market perform rating in a research note on Thursday, April 27th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $97.67.

Old Dominion Freight Line (NASDAQ:ODFL) opened at 94.79 on Monday. The company has a market cap of $7.81 billion, a PE ratio of 24.55 and a beta of 1.08. The stock has a 50 day moving average of $97.19 and a 200-day moving average of $90.74. Old Dominion Freight Line has a 1-year low of $66.33 and a 1-year high of $103.51.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 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 analyst estimates of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. Old Dominion Freight Line’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, equities research analysts predict that Old Dominion Freight Line will post $4.14 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is presently 10.39%.

In other news, Vice Chairman David S. Congdon sold 575 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the transaction, the insider now directly owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.00% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. M&T Bank Corp boosted its position in shares of Old Dominion Freight Line by 0.3% in the first quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock worth $453,000 after buying an additional 14 shares during the period. IFP Advisors Inc boosted its position in shares of Old Dominion Freight Line by 1.9% in the first quarter. IFP Advisors Inc now owns 1,839 shares of the transportation company’s stock worth $157,000 after buying an additional 34 shares during the period. Pier Capital LLC boosted its position in shares of Old Dominion Freight Line by 0.6% in the first quarter. Pier Capital LLC now owns 5,959 shares of the transportation company’s stock worth $510,000 after buying an additional 34 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Old Dominion Freight Line by 0.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock worth $534,000 after buying an additional 49 shares during the period. Finally, Atria Investments LLC boosted its position in shares of Old Dominion Freight Line by 2.6% in the first quarter. Atria Investments LLC now owns 2,772 shares of the transportation company’s stock worth $237,000 after buying an additional 69 shares during the period. Institutional investors own 75.07% of the company’s stock.

Old Dominion Freight Line Company Profile

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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