Old Dominion Freight Line Inc. (NASDAQ:ODFL) shares saw unusually-high trading volume on Friday . Approximately 635,872 shares were traded during trading, an increase of 1% from the previous session’s volume of 627,897 shares.The stock last traded at $65.30 and had previously closed at $65.08.

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

The stock’s 50-day moving average is $61.17 and its 200-day moving average is $62.68. The stock has a market cap of $5.44 billion and a price-to-earnings ratio of 18.31.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.72 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.04. The company earned $707.70 million during the quarter, compared to analyst estimates of $722.49 million. Old Dominion Freight Line’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.73 EPS. On average, equities analysts forecast that Old Dominion Freight Line Inc. will post $3.56 EPS for the current year.

In related news, Director Leo H. Suggs acquired 1,000 shares of the company’s stock in a transaction on Thursday, May 5th. The stock was purchased at an average cost of $63.00 per share, with a total value of $63,000.00. Following the acquisition, the director now directly owns 6,800 shares of the company’s stock, valued at $428,400. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David S. Congdon sold 2,200 shares of Old Dominion Freight Line 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 disclosure for this sale can be found here.

A number of institutional investors recently made changes to their positions in ODFL. Atlantic Trust Group LLC boosted its position in shares of Old Dominion Freight Line by 111.7% in the fourth quarter. Atlantic Trust Group LLC now owns 1,739,134 shares of the company’s stock valued at $102,731,000 after buying an additional 917,615 shares in the last quarter. J. Goldman & Co LP bought a new position in shares of Old Dominion Freight Line during the fourth quarter valued at $1,477,000. Victory Capital Management Inc. boosted its position in shares of Old Dominion Freight Line by 26.4% in the fourth quarter. Victory Capital Management Inc. now owns 2,045,072 shares of the company’s stock valued at $120,802,000 after buying an additional 426,739 shares in the last quarter. Whittier Trust Co. boosted 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 in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Old Dominion Freight Line by 1.4% in the fourth quarter. Principal Financial Group Inc. now owns 222,372 shares of the company’s stock valued at $13,135,000 after buying an additional 3,090 shares in the last quarter.

Old Dominion Freight Line, Inc is a less-than-truckload (LTL), union-free motor carrier company. The Company provides regional, inter-regional and national LTL services, which include ground and air expedited transportation, and consumer household pickup and delivery. The Company offers a range of other services that include container drayage, truckload brokerage, supply chain consulting and warehousing.

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