Zacks Investment Research upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a sell rating to a hold rating in a research note issued to investors on Tuesday 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. "
Other research analysts have also recently issued reports about the stock. Credit Suisse Group AG reissued an outperform rating and set a $96.00 price objective (up from $92.00) on shares of Old Dominion Freight Line in a report on Monday, March 6th. Seaport Global Securities reissued a buy rating and set a $105.00 price objective on shares of Old Dominion Freight Line in a report on Friday, December 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Old Dominion Freight Line currently has an average rating of Buy and a consensus target price of $93.17.
Shares of Old Dominion Freight Line (NASDAQ:ODFL) opened at 83.24 on Tuesday. Old Dominion Freight Line has a 1-year low of $56.74 and a 1-year high of $94.97. The stock has a market capitalization of $6.86 billion, a PE ratio of 23.39 and a beta of 1.02. The firm has a 50-day moving average of $89.84 and a 200 day moving average of $82.29.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, February 2nd. The company reported $0.83 earnings per share for the quarter, missing the 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 analysts' expectations of $739.36 million. During the same period in the previous year, the firm earned $0.85 earnings per share. The firm's revenue for the quarter was up 1.5% on a year-over-year basis. Analysts predict that Old Dominion Freight Line will post $3.93 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 20th. Shareholders of record on Monday, March 6th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%.
Several institutional investors have recently bought and sold shares of ODFL. Alps Advisors Inc. raised its position in Old Dominion Freight Line by 4.0% in the third quarter. Alps Advisors Inc. now owns 6,144 shares of the company's stock worth $422,000 after buying an additional 234 shares during the last quarter. Neuberger Berman Group LLC raised its position in Old Dominion Freight Line by 0.9% in the third quarter. Neuberger Berman Group LLC now owns 279,374 shares of the company's stock worth $19,168,000 after buying an additional 2,503 shares during the last quarter. State Treasurer State of Michigan raised its position in Old Dominion Freight Line by 1.8% in the third quarter. State Treasurer State of Michigan now owns 28,000 shares of the company's stock worth $1,921,000 after buying an additional 500 shares during the last quarter. Aperio Group LLC raised its position in Old Dominion Freight Line by 4.4% in the third quarter. Aperio Group LLC now owns 15,945 shares of the company's stock worth $1,094,000 after buying an additional 673 shares during the last quarter. Finally, Columbia Asset Management purchased a new position in Old Dominion Freight Line during the third quarter worth $213,000. 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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