Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $100.50.

Several brokerages recently weighed in on ODFL. BidaskClub raised shares of Old Dominion Freight Line from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Cowen and Company reissued a “hold” rating and issued a $100.00 price target on shares of Old Dominion Freight Line in a research report on Friday, September 1st. Buckingham Research began coverage on shares of Old Dominion Freight Line in a research report on Monday, August 21st. They issued a “neutral” rating and a $105.00 price target 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 price target for the company in a research report on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $91.00 price target on shares of Old Dominion Freight Line in a research note on Friday, July 14th.

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In other 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 value of $56,252.25. Following the sale, the insider now directly 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 is available through the SEC website. Corporate insiders own 12.00% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in ODFL. M&T Bank Corp grew its stake in shares of Old Dominion Freight Line by 0.3% during the first quarter. M&T Bank Corp now owns 5,284 shares of the transportation company’s stock worth $453,000 after purchasing an additional 14 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Old Dominion Freight Line by 0.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,590 shares of the transportation company’s stock valued at $534,000 after buying an additional 49 shares in the last quarter. Capstone Asset Management Co. raised its stake in Old Dominion Freight Line by 1.9% in the second quarter. Capstone Asset Management Co. now owns 7,453 shares of the transportation company’s stock valued at $710,000 after buying an additional 140 shares in the last quarter. First Quadrant L P CA raised its stake in Old Dominion Freight Line by 0.4% in the second quarter. First Quadrant L P CA now owns 33,490 shares of the transportation company’s stock valued at $3,190,000 after buying an additional 140 shares in the last quarter. Finally, Atria Investments LLC raised its stake in Old Dominion Freight Line by 5.5% in the second quarter. Atria Investments LLC now owns 2,925 shares of the transportation company’s stock valued at $279,000 after buying an additional 153 shares in the last quarter. 73.84% of the stock is owned by institutional investors and hedge funds.

Old Dominion Freight Line (NASDAQ:ODFL) opened at 108.99 on Wednesday. Old Dominion Freight Line has a 52 week low of $68.82 and a 52 week high of $110.45. The company has a market cap of $8.98 billion, a P/E ratio of 28.23 and a beta of 1.09. The company has a 50-day moving average of $101.11 and a 200-day moving average of $93.31.

Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $1.19 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $824.68 million. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. On average, equities research analysts predict that Old Dominion Freight Line will post $4.14 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Friday, September 1st. Old Dominion Freight Line’s dividend payout ratio (DPR) is presently 10.39%.

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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