Old Dominion Freight Line Inc. (NASDAQ:ODFL) gapped up before the market opened on Monday . The stock had previously closed at $61.80, but opened at $62.16. Old Dominion Freight Line shares last traded at $62.79, with a volume of 249,916 shares changing hands.

ODFL has been the topic of a number of recent analyst reports. Cowen and Company raised their price target on Old Dominion Freight Line from $65.00 to $69.00 and gave the company a “market perform” rating in a report on Friday, April 29th. Zacks Investment Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a report on Friday, July 1st. Longbow Research reissued a “buy” rating on shares of Old Dominion Freight Line in a report on Thursday, June 2nd. Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Finally, Morgan Stanley reissued a “buy” rating on shares of Old Dominion Freight Line in a report on Saturday, April 30th. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $66.63.

The company has a market capitalization of $5.25 billion and a P/E ratio of 17.67. The company has a 50-day moving average of $61.15 and a 200-day moving average of $62.64.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 28th. The company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.76 by $0.04. The firm had revenue of $707.70 million for the quarter, compared to analyst estimates of $722.49 million. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.73 EPS. Equities research analysts expect that Old Dominion Freight Line Inc. will post $3.58 EPS for the current year.

In other news, CEO David S. Congdon sold 2,200 shares of the company’s stock in a transaction on Tuesday, May 10th. The shares were sold at an average price of $65.41, for a total value of $143,902.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leo H. Suggs bought 1,000 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was purchased at an average price of $63.00 per share, with a total value of $63,000.00. Following the completion of the purchase, the director now directly owns 6,800 shares of the company’s stock, valued at approximately $428,400. The disclosure for this purchase can be found here.

Several hedge funds and institutional investors have recently made changes to their positions in ODFL. J. Goldman & Co LP purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $1,477,000. Tributary Capital Management LLC purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $1,565,000. Whittier Trust Co. increased its position in shares of Old Dominion Freight Line by 1.1% in the fourth quarter. Whittier Trust Co. now owns 29,040 shares of the company’s stock valued at $1,715,000 after buying an additional 302 shares during the period. TD Asset Management Inc. purchased a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $1,949,000. Finally, Liberty Mutual Group Asset Management Inc. increased its position in shares of Old Dominion Freight Line by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 45,083 shares of the company’s stock valued at $2,663,000 after buying an additional 15,298 shares during the period.

Old Dominion Freight Line, Inc (Old Dominion) is a less-than-truckload (LTL) motor carrier providing regional, inter-regional and national LTL service and logistics services. In addition to its LTL services, it offers a range of services including international freight forwarding, ground and air expedited transportation, container delivery, truckload brokerage, supply chain consulting, warehousing and consumer household pickup and delivery.

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