Old Dominion Freight Line Inc. (ODFL) Sees Large Volume Increase
Old Dominion Freight Line Inc. (NASDAQ:ODFL) shares saw unusually-strong trading volume on Friday . Approximately 635,872 shares traded hands during mid-day 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.
Several equities analysts recently issued reports on ODFL shares. Longbow Research reissued a “buy” rating on shares of Old Dominion Freight Line in a research report on Thursday, June 2nd. Morgan Stanley reissued a “buy” rating on shares of Old Dominion Freight Line in a research report on Saturday, April 30th. Zacks Investment Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research report on Friday, July 1st. Stifel Nicolaus downgraded Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Finally, Cowen and Company upped their target price on Old Dominion Freight Line from $65.00 to $69.00 and gave the company a “market perform” rating in a research report on Friday, April 29th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Old Dominion Freight Line currently has an average rating of “Hold” and a consensus target price of $66.63.
The company’s 50 day moving average is $61.21 and its 200-day moving average is $62.72. The firm has a market cap of $5.44 billion and a P/E ratio of 18.31.
Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data 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 firm had revenue of $707.70 million for the quarter, compared to analyst estimates of $722.49 million. During the same period in the prior year, the business posted $0.73 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Old Dominion Freight Line Inc. will post $3.56 EPS for the current year.
In other news, 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 transaction of $143,902.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Leo H. Suggs acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, May 5th. The shares were purchased at an average cost of $63.00 per share, with a total value of $63,000.00. Following the completion of the transaction, the director now owns 6,800 shares in the company, valued at approximately $428,400. The disclosure for this purchase can be found here.
Other large investors have recently added to or reduced their stakes in the company. Tributary Capital Management LLC purchased a new stake in Old Dominion Freight Line during the fourth quarter valued at about $1,565,000. New York State Common Retirement Fund boosted its stake in Old Dominion Freight Line by 0.4% in the fourth quarter. New York State Common Retirement Fund now owns 271,857 shares of the company’s stock valued at $16,059,000 after buying an additional 1,191 shares during the period. Eagle Asset Management boosted its stake in Old Dominion Freight Line by 160.6% in the third quarter. Eagle Asset Management now owns 437,676 shares of the company’s stock valued at $26,698,000 after buying an additional 269,725 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its stake in 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. Finally, Rhumbline Advisers boosted its stake in Old Dominion Freight Line by 0.8% in the fourth quarter. Rhumbline Advisers now owns 119,102 shares of the company’s stock valued at $7,035,000 after buying an additional 962 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.