Credit Suisse Group Reiterates Outperform Rating for Old Dominion Freight Line, Inc. (NASDAQ:ODFL)

Old Dominion Freight Line, Inc. (NASDAQ:ODFL)‘s stock had its “outperform” rating reaffirmed by research analysts at Credit Suisse Group in a research report issued on Thursday, The Fly reports. They presently have a $109.00 price target on the transportation company’s stock, up from their previous price target of $101.00. Credit Suisse Group’s price objective points to a potential upside of 9.01% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other research analysts also recently issued reports on the company. Zacks Investment Research upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research report on Tuesday, July 11th. BidaskClub upgraded Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Bank of America Corporation upgraded Old Dominion Freight Line from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $83.00 to $96.00 in a research report on Tuesday, June 6th. Cowen and Company lifted their price objective on 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. Finally, Vertical Research restated a “hold” rating and set a $83.00 price objective on shares of Old Dominion Freight Line in a research report on Thursday, April 13th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Old Dominion Freight Line presently has a consensus rating of “Buy” and an average target price of $96.78.

Old Dominion Freight Line (NASDAQ:ODFL) traded down 0.44% during midday trading on Thursday, hitting $99.55. The stock had a trading volume of 112,745 shares. The firm has a market cap of $8.21 billion, a P/E ratio of 27.33 and a beta of 1.08. Old Dominion Freight Line has a 12-month low of $64.16 and a 12-month high of $100.61. The stock has a 50-day moving average price of $90.60 and a 200 day moving average price of $88.34.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its quarterly earnings data on Thursday, April 27th. The transportation company reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.01. Old Dominion Freight Line had a return on equity of 16.52% and a net margin of 9.92%. The firm had revenue of $754.10 million during the quarter, compared to the consensus estimate of $751.84 million. During the same period in the previous year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts anticipate that Old Dominion Freight Line will post $3.99 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. SRS Capital Advisors Inc. increased its position in shares of Old Dominion Freight Line by 18.1% in the first quarter. SRS Capital Advisors Inc. now owns 1,308 shares of the transportation company’s stock valued at $111,000 after buying an additional 200 shares during the period. IFP Advisors Inc increased 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 valued at $157,000 after buying an additional 34 shares during the period. Private Advisor Group LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter valued at $166,000. Atria Investments LLC increased 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 valued at $237,000 after buying an additional 69 shares during the period. Finally, Canal Capital Management LLC acquired a new position in shares of Old Dominion Freight Line during the first quarter valued at $254,000. Institutional investors own 74.66% 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.

The Fly

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

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