Old Dominion Freight Line Inc. (NASDAQ:ODFL) – Equities researchers at KeyCorp cut their Q3 2016 EPS estimates for shares of Old Dominion Freight Line in a research note issued to investors on Thursday. KeyCorp analyst T. Fowler now forecasts that the firm will earn $0.97 per share for the quarter, down from their prior forecast of $1.00. KeyCorp currently has a “Buy” rating and a $75.00 price target on the stock. KeyCorp also issued estimates for Old Dominion Freight Line’s Q4 2016 earnings at $0.84 EPS, FY2016 earnings at $3.50 EPS and FY2017 earnings at $3.90 EPS.

Old Dominion Freight Line (NASDAQ:ODFL) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. The business earned $755.40 million during the quarter, compared to analyst estimates of $754.33 million. Old Dominion Freight Line had a return on equity of 17.61% and a net margin of 10.02%. The company’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS.

Earnings History and Estimates for Old Dominion Freight Line (NASDAQ:ODFL)

Several other equities research analysts also recently issued reports on ODFL. Cowen and Company lifted their price target on shares of Old Dominion Freight Line from $63.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, July 28th. Zacks Investment Research raised shares of Old Dominion Freight Line from a “sell” rating to a “hold” rating in a research note on Friday, July 1st. Finally, Deutsche Bank AG lifted their price target on shares of Old Dominion Freight Line from $67.00 to $71.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $68.78.

Old Dominion Freight Line (NASDAQ:ODFL) opened at 71.60 on Monday. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 20.27 and a beta of 1.24. The company has a 50 day moving average price of $69.13 and a 200 day moving average price of $66.25. Old Dominion Freight Line has a 52 week low of $48.92 and a 52 week high of $72.45.

In related news, insider Jeffrey W. Congdon sold 24,555 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $69.84, for a total transaction of $1,714,921.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman David S. Congdon sold 1,660 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $69.77, for a total transaction of $115,818.20. Following the sale, the insider now directly owns 5,334 shares of the company’s stock, valued at approximately $372,153.18. The disclosure for this sale can be found here. Corporate insiders own 14.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Mason Street Advisors LLC purchased a new position in Old Dominion Freight Line during the second quarter worth about $1,882,000. CI Global Investments Inc. raised its position in Old Dominion Freight Line by 316.7% in the second quarter. CI Global Investments Inc. now owns 125,000 shares of the company’s stock worth $7,539,000 after buying an additional 95,000 shares during the last quarter. Calvert Investment Management Inc. raised its position in Old Dominion Freight Line by 4.9% in the second quarter. Calvert Investment Management Inc. now owns 5,563 shares of the company’s stock worth $336,000 after buying an additional 260 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Old Dominion Freight Line by 11.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 216,210 shares of the company’s stock worth $13,040,000 after buying an additional 23,017 shares during the last quarter. Finally, Stifel Financial Corp raised its position in Old Dominion Freight Line by 19.2% in the second quarter. Stifel Financial Corp now owns 44,651 shares of the company’s stock worth $2,695,000 after buying an additional 7,198 shares during the last quarter. 76.82% of the stock is owned by institutional investors and hedge funds.

About Old Dominion Freight Line

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.

5 Day Chart for NASDAQ:ODFL

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