Old Dominion Freight Line, Inc. (ODFL) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

Several other equities analysts have also recently commented on ODFL. Bank of America Corporation raised shares of Old Dominion Freight Line from an underperform rating to a neutral rating and increased their price target for the stock from $83.00 to $96.00 in a research report on Tuesday, June 6th. Zacks Investment Research cut shares of Old Dominion Freight Line from a hold rating to a sell rating in a research report on Wednesday, March 8th. Cowen and Company increased their price target on shares of 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. Credit Suisse Group reaffirmed an outperform rating and set a $96.00 price target (up previously from $92.00) on shares of Old Dominion Freight Line in a research report on Monday, March 6th. Finally, Vertical Research reaffirmed a hold rating and set a $83.00 price target on shares of Old Dominion Freight Line in a research report on Thursday, April 13th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $94.63.

Analyst Recommendations for Old Dominion Freight Line (NASDAQ:ODFL)

Shares of Old Dominion Freight Line (ODFL) opened at 94.91 on Thursday. The stock’s 50 day moving average price is $89.15 and its 200-day moving average price is $88.11. The firm has a market cap of $7.82 billion, a PE ratio of 26.05 and a beta of 1.05. Old Dominion Freight Line has a 52-week low of $56.74 and a 52-week high of $96.46.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings results on Thursday, April 27th. The transportation company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.79 by $0.01. Old Dominion Freight Line had a net margin of 9.92% and a return on equity of 16.52%. The business had revenue of $754.10 million for the quarter, compared to analysts’ expectations of $751.84 million. During the same quarter last year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Old Dominion Freight Line will post $3.96 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was reported by Ticker Report and is the property of of Ticker Report. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://www.tickerreport.com/banking-finance/2655125/old-dominion-freight-line-inc-odfl-raised-to-buy-at-bidaskclub.html.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Shareholders of record on Tuesday, June 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.42%. Old Dominion Freight Line’s dividend payout ratio is currently 10.99%.

A number of institutional investors have recently modified their holdings of the company. Pointe Capital Management LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter worth about $432,000. 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 in the last quarter. HighTower Advisors LLC boosted its position in shares of Old Dominion Freight Line by 2.1% in the first quarter. HighTower Advisors LLC now owns 7,846 shares of the transportation company’s stock worth $671,000 after buying an additional 159 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 100.3% in the first quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock worth $25,619,000 after buying an additional 149,951 shares in the last quarter. Finally, Scopus Asset Management L.P. boosted its position in shares of Old Dominion Freight Line by 37.6% in the first quarter. Scopus Asset Management L.P. now owns 480,392 shares of the transportation company’s stock worth $41,107,000 after buying an additional 131,330 shares in the last quarter. 74.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

Receive News & Ratings for Old Dominion Freight Line Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Dominion Freight Line Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Blue Apron Filed Thursday for Public Offering
Blue Apron Filed Thursday for Public Offering
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Large Auto Lender Checked Just 8% of Incomes for Applicants
Large Auto Lender Checked Just 8% of Incomes for Applicants


Leave a Reply

© 2006-2017 Ticker Report. Google+.