Old Dominion Freight Line, Inc. (NASDAQ:ODFL) had its price target raised by Morgan Stanley from $87.00 to $91.00 in a research note released on Thursday. They currently have an overweight rating on the transportation company’s stock.

A number of other equities research analysts also recently issued reports on ODFL. Zacks Investment Research downgraded shares of Old Dominion Freight Line from a buy rating to a hold rating in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of Old Dominion Freight Line from a buy rating to a strong-buy rating in a research report on Sunday, July 16th. Credit Suisse Group reiterated an outperform rating and issued a $109.00 target price (up previously from $101.00) on shares of Old Dominion Freight Line in a research report on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG downgraded shares of Old Dominion Freight Line from a buy rating to a hold rating and cut their target price for the stock from $108.00 to $98.00 in a research report on Monday, July 31st. Finally, Stifel Nicolaus reiterated a hold rating and issued a $91.00 target price on shares of Old Dominion Freight Line in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $100.75.

Old Dominion Freight Line (ODFL) opened at 108.78 on Thursday. The firm has a market capitalization of $8.96 billion, a P/E ratio of 28.17 and a beta of 1.09. The firm has a 50-day moving average price of $102.11 and a 200 day moving average price of $93.68. Old Dominion Freight Line has a one year low of $68.82 and a one year high of $110.45.

Old Dominion Freight Line (NASDAQ:ODFL) last released its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.09. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The company had revenue of $839.90 million during the quarter, compared to the consensus estimate of $824.68 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that Old Dominion Freight Line will post $4.14 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.37%. Old Dominion Freight Line’s dividend payout ratio is currently 10.39%.

In other news, Vice Chairman David S. Congdon sold 575 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $97.83, for a total transaction of $56,252.25. Following the transaction, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.00% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Old Dominion Freight Line by 115.7% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,206 shares of the transportation company’s stock valued at $115,000 after purchasing an additional 647 shares in the last quarter. Paradigm Asset Management Co. LLC bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $157,000. IFP Advisors Inc raised its holdings in shares of Old Dominion Freight Line by 12.9% during the 2nd quarter. IFP Advisors Inc now owns 2,077 shares of the transportation company’s stock valued at $198,000 after purchasing an additional 238 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Old Dominion Freight Line by 14.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,351 shares of the transportation company’s stock valued at $224,000 after purchasing an additional 288 shares in the last quarter. Finally, Greenwood Capital Associates LLC bought a new position in shares of Old Dominion Freight Line during the 2nd quarter valued at $228,000. Institutional investors and hedge funds own 73.84% 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.

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

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