BidaskClub cut shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) from a hold rating to a sell rating in a research report released on Friday.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research raised Old Dominion Freight Line from a sell rating to a hold rating in a research report on Thursday, April 13th. Vertical Research reaffirmed a hold rating and issued a $83.00 target price on shares of Old Dominion Freight Line in a research report on Thursday, April 13th. Cowen and Company increased their target price on Old Dominion Freight Line from $88.00 to $92.00 and gave the stock a market perform rating in a research report on Thursday, April 27th. Bank of America Corporation raised Old Dominion Freight Line from an underperform rating to a neutral rating and increased their target price for the stock from $83.00 to $96.00 in a research report on Tuesday, June 6th. Finally, Stifel Nicolaus reaffirmed 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Old Dominion Freight Line currently has an average rating of Hold and a consensus price target of $97.67.

Old Dominion Freight Line (NASDAQ:ODFL) traded up 1.72% during trading on Friday, reaching $96.22. 488,804 shares of the company were exchanged. Old Dominion Freight Line has a 52-week low of $66.33 and a 52-week high of $103.51. The firm’s 50 day moving average is $96.30 and its 200 day moving average is $90.08. The stock has a market capitalization of $7.92 billion, a PE ratio of 24.92 and a beta of 1.08.

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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.09. The business had revenue of $839.90 million for the quarter, compared to analyst estimates of $824.68 million. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. Analysts expect that Old Dominion Freight Line will post $4.14 EPS for the current year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio is presently 10.39%.

Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Old Dominion Freight Line by 11,389.2% in the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after buying an additional 5,353,843 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Old Dominion Freight Line by 7.9% in 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 buying an additional 191,911 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Old Dominion Freight Line by 8,727.8% in the first quarter. Daiwa Securities Group Inc. now owns 158,900 shares of the transportation company’s stock worth $13,597,000 after buying an additional 157,100 shares during the period. AQR Capital Management LLC raised its position in shares of Old Dominion Freight Line by 100.3% in the first quarter. AQR Capital Management LLC now owns 299,394 shares of the transportation company’s stock worth $25,619,000 after buying an additional 149,951 shares during the period. Finally, Scopus Asset Management L.P. raised its position in shares of Old Dominion Freight Line by 37.6% in the first quarter. Scopus Asset Management L.P. now owns 480,392 shares of the transportation company’s stock worth $41,107,000 after buying an additional 131,330 shares during the period. 74.89% of the stock is currently owned by hedge funds and other institutional investors.

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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