Old Dominion Freight Line Inc. (ODFL) Stock Price Up 3.4%
Old Dominion Freight Line Inc. (NASDAQ:ODFL) rose 3.4% on Friday . The stock traded as high as $67.22 and last traded at $67.10, with a volume of 411,509 shares trading hands. The stock had previously closed at $64.87.
ODFL has been the subject of several recent research reports. Longbow Research reissued a “buy” rating on shares of Old Dominion Freight Line in a research note on Thursday, June 2nd. Morgan Stanley reissued a “buy” rating on shares of Old Dominion Freight Line in a research note on Saturday, April 30th. Zacks Investment Research raised Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Cowen and Company increased their price target on Old Dominion Freight Line from $65.00 to $69.00 and gave the company a “market perform” rating in a research note on Friday, April 29th. Finally, Stifel Nicolaus cut Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $66.63.
The stock has a 50-day moving average of $61.52 and a 200 day moving average of $62.93. The stock has a market cap of $5.62 billion and a price-to-earnings ratio of 18.90.
Old Dominion Freight Line (NASDAQ:ODFL) last issued 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. During the same period in the prior year, the business posted $0.73 earnings per share. The business earned $707.70 million during the quarter, compared to analysts’ expectations of $722.49 million. The firm’s revenue was up 1.6% on a year-over-year basis. Equities research analysts expect that Old Dominion Freight Line Inc. will post $3.55 EPS for the current year.
In other news, CEO David S. Congdon sold 2,200 shares of the business’s stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $65.41, for a total value of $143,902.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leo H. Suggs bought 1,000 shares of the stock in a transaction dated Thursday, May 5th. The stock was bought at an average cost of $63.00 per share, with a total value of $63,000.00. Following the purchase, the director now owns 6,800 shares in the company, valued at approximately $428,400. The disclosure for this purchase can be found here.
Several large investors recently added to or reduced their stakes in ODFL. Vanguard Group Inc. raised its stake in Old Dominion Freight Line by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,381,250 shares of the company’s stock worth $258,800,000 after buying an additional 67,189 shares during the period. Victory Capital Management Inc. raised its stake in 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 worth $120,802,000 after buying an additional 426,739 shares during the period. Atlantic Trust Group LLC raised its stake in 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 worth $102,731,000 after buying an additional 917,615 shares during the period. Eagle Asset Management raised 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 worth $26,698,000 after buying an additional 269,725 shares during the period. Finally, New York State Common Retirement Fund raised 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 worth $16,059,000 after buying an additional 1,191 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.
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