Old Dominion Freight Line (NASDAQ:ODFL) – Stock analysts at KeyCorp reduced their FY2019 earnings per share (EPS) estimates for shares of Old Dominion Freight Line in a research report issued on Wednesday, December 4th. KeyCorp analyst T. Fowler now expects that the transportation company will earn $7.65 per share for the year, down from their prior forecast of $7.75. KeyCorp currently has a “Overweight” rating on the stock. KeyCorp also issued estimates for Old Dominion Freight Line’s Q4 2019 earnings at $1.80 EPS and FY2020 earnings at $8.35 EPS.
ODFL has been the subject of a number of other reports. Bank of America boosted their price objective on shares of Old Dominion Freight Line from $172.00 to $175.00 and gave the company an “underperform” rating in a research note on Wednesday. Stephens set a $203.00 target price on shares of Old Dominion Freight Line and gave the stock a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus cut shares of Old Dominion Freight Line from a “hold” rating to a “sell” rating and increased their target price for the stock from $148.00 to $155.00 in a research note on Friday, October 25th. ValuEngine lowered shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Argus boosted their price target on shares of Old Dominion Freight Line to $205.00 and gave the company a “positive” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Old Dominion Freight Line currently has an average rating of “Hold” and an average price target of $168.46.
Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, October 24th. The transportation company reported $2.05 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.06). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. Old Dominion Freight Line had a return on equity of 22.62% and a net margin of 15.29%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 EPS.
Several large investors have recently modified their holdings of the company. Resources Management Corp CT ADV purchased a new position in Old Dominion Freight Line in the third quarter worth $98,000. Man Group plc lifted its stake in Old Dominion Freight Line by 196.1% during the third quarter. Man Group plc now owns 32,631 shares of the transportation company’s stock worth $5,546,000 after purchasing an additional 21,612 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Old Dominion Freight Line during the third quarter worth about $5,326,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Old Dominion Freight Line by 1.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 107,923 shares of the transportation company’s stock worth $18,344,000 after purchasing an additional 1,729 shares in the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Old Dominion Freight Line by 14.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 25,900 shares of the transportation company’s stock worth $4,402,000 after purchasing an additional 3,300 shares in the last quarter. 75.35% of the stock is currently owned by hedge funds and other institutional investors.
In other Old Dominion Freight Line news, Chairman Earl E. Congdon sold 23,500 shares of Old Dominion Freight Line stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $181.94, for a total transaction of $4,275,590.00. Following the completion of the sale, the chairman now directly owns 10,854 shares in the company, valued at $1,974,776.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 11.90% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Tuesday, December 3rd. Old Dominion Freight Line’s dividend payout ratio is currently 9.21%.
About Old Dominion Freight Line
Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.
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