Zacks Investment Research upgraded shares of Old Dominion Freight Line (NASDAQ:ODFL) from a hold rating to a buy rating in a research report report published on Saturday. The firm currently has $152.00 target price on the transportation company’s stock.

According to Zacks, “Old Dominion Freight Line, Inc. (NASDAQ: ODFL), is a leading, less-than-truckload LTL, union-free company providing super-regional and national LTL service. The company is an inter-regional and multi-regional motor carrier transporting primarily less-than-truckload shipments of general commodities, including consumer goods, textiles and capital goods to a diversified customer base. In addition to its core LTL services, OD offers customers a broad range of logistics services including ground and air expedited transportation, supply chain consulting, transportation management, truckload brokerage and container delivery and warehousing. In addition, Old Dominion offers a consumer product for household moving: OD Household Services®. Through strategic partnerships, the Company also offers international freight forwarding services throughout the world. OD consistently has one of the lowest claims ratios and best on-time records in the industry. “

Other equities analysts have also issued research reports about the stock. Stifel Nicolaus restated a buy rating and set a $117.00 target price (up previously from $111.00) on shares of Old Dominion Freight Line in a research report on Wednesday, December 13th. Seaport Global Securities restated a buy rating on shares of Old Dominion Freight Line in a research report on Tuesday, December 5th. Citigroup upped their target price on shares of Old Dominion Freight Line from $110.00 to $120.00 and gave the stock a neutral rating in a research report on Friday, October 27th. Bank of America lowered shares of Old Dominion Freight Line from a neutral rating to an underperform rating and dropped their target price for the stock from $105.00 to $102.00 in a research report on Tuesday, October 10th. They noted that the move was a valuation call. Finally, Robert W. Baird restated a hold rating and set a $113.00 target price on shares of Old Dominion Freight Line in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $115.50.

Shares of Old Dominion Freight Line (ODFL) traded up $1.36 during trading hours on Friday, hitting $137.96. 548,000 shares of the company were exchanged, compared to its average volume of 706,164. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.02. Old Dominion Freight Line has a 12-month low of $80.56 and a 12-month high of $138.25. The company has a market capitalization of $11,370.00, a price-to-earnings ratio of 33.98 and a beta of 1.20.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Thursday, October 26th. The transportation company reported $1.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.08. Old Dominion Freight Line had a net margin of 10.43% and a return on equity of 17.09%. The firm had revenue of $872.99 million during the quarter, compared to analyst estimates of $855.85 million. During the same quarter in the prior year, the business earned $1.03 earnings per share. Old Dominion Freight Line’s revenue for the quarter was up 11.5% on a year-over-year basis. equities research analysts anticipate that Old Dominion Freight Line will post 4.32 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.40 annualized dividend and a yield of 0.29%. Old Dominion Freight Line’s dividend payout ratio (DPR) is currently 9.85%.

A number of hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its position in Old Dominion Freight Line by 73.0% during the third quarter. Public Employees Retirement System of Ohio now owns 105,349 shares of the transportation company’s stock valued at $11,600,000 after purchasing an additional 44,458 shares during the last quarter. Salem Investment Counselors Inc. lifted its position in Old Dominion Freight Line by 3,281.3% during the third quarter. Salem Investment Counselors Inc. now owns 1,082 shares of the transportation company’s stock valued at $118,000 after purchasing an additional 1,050 shares during the last quarter. Fieldpoint Private Securities LLC bought a new position in Old Dominion Freight Line during the third quarter valued at $100,000. Neuberger Berman Group LLC lifted its position in Old Dominion Freight Line by 16.6% during the third quarter. Neuberger Berman Group LLC now owns 176,052 shares of the transportation company’s stock valued at $19,385,000 after purchasing an additional 25,000 shares during the last quarter. Finally, California Public Employees Retirement System lifted its position in Old Dominion Freight Line by 6.4% during the third quarter. California Public Employees Retirement System now owns 206,395 shares of the transportation company’s stock valued at $22,726,000 after purchasing an additional 12,495 shares during the last quarter. Institutional investors and hedge funds own 72.39% of the company’s stock.

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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.

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

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