Buckingham Research assumed coverage on shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in a report published on Monday, MarketBeat reports. The firm issued a neutral rating and a $105.00 price target on the transportation company’s stock.

ODFL has been the topic of a number of other reports. Credit Suisse Group restated an outperform rating and issued a $109.00 price objective (up from $101.00) on shares of Old Dominion Freight Line in a report on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG lowered shares of Old Dominion Freight Line from a buy rating to a hold rating and reduced their price objective for the company from $108.00 to $98.00 in a report on Monday, July 31st. BidaskClub upgraded shares of Old Dominion Freight Line from a hold rating to a buy rating in a report on Saturday, July 1st. Cowen and Company raised their price objective on shares of Old Dominion Freight Line from $88.00 to $92.00 and gave the company a market perform rating in a report on Thursday, April 27th. Finally, Zacks Investment Research upgraded shares of Old Dominion Freight Line from a hold rating to a buy rating and set a $110.00 price objective on the stock in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $98.40.

Shares of Old Dominion Freight Line (NASDAQ ODFL) opened at 93.76 on Monday. The company has a 50 day moving average price of $97.01 and a 200 day moving average price of $90.90. Old Dominion Freight Line has a 1-year low of $66.33 and a 1-year high of $103.51. The stock has a market cap of $7.72 billion, a P/E ratio of 24.28 and a beta of 1.08.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 business had revenue of $839.90 million for the quarter, compared to analyst estimates of $824.68 million. During the same period last year, the business earned $0.98 EPS. The company’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts anticipate that Old Dominion Freight Line will post $4.14 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, September 1st. Old Dominion Freight Line’s payout ratio is currently 10.39%.

In other Old Dominion Freight Line 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 directly owns 9,516 shares of the company’s stock, valued at approximately $930,950.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ODFL. Dynamic Technology Lab Private Ltd acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $590,000. Wasatch Advisors Inc. increased its position in shares of Old Dominion Freight Line by 5.3% in the second quarter. Wasatch Advisors Inc. now owns 799,843 shares of the transportation company’s stock valued at $76,177,000 after buying an additional 39,954 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Old Dominion Freight Line by 0.9% in the second quarter. Ameritas Investment Partners Inc. now owns 33,124 shares of the transportation company’s stock valued at $3,154,000 after buying an additional 304 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Old Dominion Freight Line by 1.7% in the second quarter. The Manufacturers Life Insurance Company now owns 102,304 shares of the transportation company’s stock valued at $9,743,000 after buying an additional 1,729 shares during the last quarter. Finally, BlueCrest Capital Management Ltd acquired a new position in shares of Old Dominion Freight Line during the second quarter valued at about $233,000. 75.07% of the stock is currently owned by institutional investors.

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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