Zacks Investment Research downgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
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 research analysts have also weighed in on ODFL. KeyCorp raised their price objective on Old Dominion Freight Line from $91.00 to $95.00 and gave the company an overweight rating in a research report on Tuesday, November 29th. Seaport Global Securities reaffirmed a buy rating and set a $105.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, December 16th. Finally, Credit Suisse Group AG reaffirmed a buy rating and set a $92.00 price objective on shares of Old Dominion Freight Line in a research report on Sunday, February 5th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Old Dominion Freight Line has a consensus rating of Buy and a consensus price target of $93.17.
Shares of Old Dominion Freight Line (NASDAQ:ODFL) traded down 0.39% during mid-day trading on Wednesday, hitting $87.01. The company's stock had a trading volume of 46,173 shares. The stock's 50 day moving average price is $90.31 and its 200 day moving average price is $81.85. Old Dominion Freight Line has a 52-week low of $56.74 and a 52-week high of $94.97. The company has a market cap of $7.18 billion, a price-to-earnings ratio of 24.45 and a beta of 1.02.
Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, February 2nd. The company reported $0.83 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.86 by $0.03. Old Dominion Freight Line had a net margin of 9.89% and a return on equity of 16.69%. The company had revenue of $745.74 million for the quarter, compared to the consensus estimate of $739.36 million. During the same period last year, the business earned $0.85 EPS. The firm's quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts forecast that Old Dominion Freight Line will post $3.94 EPS for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Shareholders of record on Monday, March 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.40 annualized dividend and a yield of 0.46%.
A number of hedge funds have recently modified their holdings of ODFL. Norges Bank acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $60,751,000. Thrivent Financial for Lutherans increased its stake in shares of Old Dominion Freight Line by 10.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 95,050 shares of the company's stock valued at $8,154,000 after buying an additional 8,890 shares in the last quarter. Independent Advisor Alliance acquired a new stake in shares of Old Dominion Freight Line during the fourth quarter valued at approximately $100,000. Castleark Management LLC increased its stake in shares of Old Dominion Freight Line by 1.9% in the fourth quarter. Castleark Management LLC now owns 136,710 shares of the company's stock valued at $11,728,000 after buying an additional 2,530 shares in the last quarter. Finally, Cigna Investments Inc. New acquired a new stake in shares of Old Dominio n Freight Line during the fourth quarter valued at approximately $216,000. Institutional investors and hedge funds own 77.82% 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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