Credit Suisse Group restated their outperform rating on shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in a report released on Thursday. Credit Suisse Group currently has a $119.00 price target on the transportation company’s stock, up from their prior price target of $110.00. The analysts noted that the move was a valuation call.

A number of other equities analysts have also weighed in on ODFL. BidaskClub upgraded shares of Old Dominion Freight Line from a hold rating to a buy rating in a research report on Thursday, June 15th. Zacks Investment Research upgraded shares of Old Dominion Freight Line from a hold rating to a buy rating and set a $110.00 price target for the company in a research report on Tuesday, July 11th. Stifel Nicolaus reiterated a hold rating and issued a $91.00 price target on shares of Old Dominion Freight Line in a research report on Friday, July 14th. Deutsche Bank AG lowered shares of Old Dominion Freight Line from a buy rating to a hold rating and dropped their price target for the stock from $108.00 to $98.00 in a research report on Monday, July 31st. Finally, Buckingham Research started coverage on shares of Old Dominion Freight Line in a research report on Monday, August 21st. They issued a neutral rating and a $105.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $103.75.

Old Dominion Freight Line (ODFL) traded down 1.76% on Thursday, reaching $107.48. 561,591 shares of the company traded hands. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 27.84 and a beta of 1.09. Old Dominion Freight Line has a 1-year low of $68.82 and a 1-year high of $110.45. The stock’s 50-day moving average is $103.75 and its 200-day moving average is $94.36.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million during the quarter, compared to analyst estimates of $824.68 million. Old Dominion Freight Line had a net margin of 10.19% and a return on equity of 16.87%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. Equities research analysts expect that Old Dominion Freight Line will post $4.15 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Wednesday, September 20th. Investors of record on Wednesday, September 6th were given a dividend of $0.10 per share. The ex-dividend date 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 10.39%.

In related news, Vice Chairman David S. Congdon sold 575 shares of the company’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 completion of the transaction, the insider now owns 9,516 shares in the company, valued at $930,950.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.00% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Old Dominion Freight Line by 11,389.2% during the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock worth $462,150,000 after acquiring an additional 5,353,843 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Old Dominion Freight Line by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,372,428 shares of the transportation company’s stock worth $511,669,000 after acquiring an additional 54,645 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of Old Dominion Freight Line during the second quarter worth $266,855,000. Janus Capital Management LLC boosted its position in shares of Old Dominion Freight Line by 1.0% during the first quarter. Janus Capital Management LLC now owns 2,789,817 shares of the transportation company’s stock worth $238,725,000 after acquiring an additional 27,397 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Old Dominion Freight Line by 7.9% during the second quarter. William Blair Investment Management LLC now owns 2,625,605 shares of the transportation company’s stock worth $250,063,000 after acquiring an additional 191,911 shares during the last quarter. Hedge funds and other institutional investors own 73.84% of the company’s stock.

About Old Dominion Freight Line

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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