BidaskClub lowered shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) from a hold rating to a sell rating in a report published on Wednesday.

ODFL has been the subject of several other research reports. Buckingham Research assumed coverage on shares of Old Dominion Freight Line in a research note on Monday, August 21st. They issued a neutral rating and a $105.00 target price for the company. Zacks Investment Research raised shares of Old Dominion Freight Line from a hold rating to a buy rating and set a $110.00 target price for the company in a research note on Tuesday, July 11th. Credit Suisse Group reissued an outperform rating and issued a $109.00 target price (up previously from $101.00) on shares of Old Dominion Freight Line in a research note on Thursday, July 13th. They noted that the move was a valuation call. Deutsche Bank AG downgraded shares of Old Dominion Freight Line from a buy rating to a hold rating and cut their target price for the company from $108.00 to $98.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus reissued a hold rating and issued a $91.00 target price on shares of Old Dominion Freight Line in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $98.40.

Old Dominion Freight Line (NASDAQ:ODFL) opened at 95.42 on Wednesday. The stock has a market capitalization of $7.86 billion, a PE ratio of 24.71 and a beta of 1.08. The company’s 50 day moving average is $96.86 and its 200-day moving average is $90.96. Old Dominion Freight Line has a 1-year low of $66.33 and a 1-year high of $103.51.

Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, July 27th. The transportation company reported $1.19 earnings per share for the quarter, beating the 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 firm had revenue of $839.90 million during the quarter, compared to the consensus estimate of $824.68 million. During the same quarter in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts forecast that Old Dominion Freight Line will post $4.14 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, September 1st. Old Dominion Freight Line’s payout ratio is currently 10.39%.

In other news, Vice Chairman David S. Congdon sold 575 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $97.83, for a total transaction of $56,252.25. Following the completion of the sale, the insider now owns 9,516 shares in the company, valued at approximately $930,950.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.00% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Teachers Advisors LLC boosted its stake in shares of Old Dominion Freight Line by 40.9% in the fourth quarter. Teachers Advisors LLC now owns 84,079 shares of the transportation company’s stock worth $7,213,000 after buying an additional 24,415 shares during the last quarter. Bank of Montreal Can boosted its position in Old Dominion Freight Line by 838.5% in the first quarter. Bank of Montreal Can now owns 40,544 shares of the transportation company’s stock worth $3,469,000 after buying an additional 36,224 shares in the last quarter. Capstone Asset Management Co. boosted its position in Old Dominion Freight Line by 2.1% in the first quarter. Capstone Asset Management Co. now owns 7,313 shares of the transportation company’s stock worth $626,000 after buying an additional 150 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Old Dominion Freight Line during the first quarter worth $317,000. Finally, Fisher Asset Management LLC boosted its position in Old Dominion Freight Line by 2.3% in the first quarter. Fisher Asset Management LLC now owns 5,877 shares of the transportation company’s stock worth $503,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 75.07% 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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