Old Dominion Freight Line, Inc. (ODFL) Rating Reiterated by KeyCorp
KeyCorp reiterated their buy rating on shares of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in a research report released on Thursday morning. The firm currently has a $115.00 target price on the transportation company’s stock. KeyCorp also issued estimates for Old Dominion Freight Line’s FY2018 earnings at $4.70 EPS.
Several other research analysts have also recently weighed in on the company. BidaskClub upgraded Old Dominion Freight Line from a hold rating to a buy rating in a research note on Saturday, July 1st. Cowen and Company reiterated a hold rating and set a $100.00 price objective on shares of Old Dominion Freight Line in a research report on Friday, September 1st. Bank of America Corporation cut Old Dominion Freight Line from a neutral rating to an underperform rating and reduced their price objective for the company from $105.00 to $102.00 in a research report on Tuesday, October 10th. They noted that the move was a valuation call. Buckingham Research assumed coverage on Old Dominion Freight Line in a research report on Monday, August 21st. They set a neutral rating and a $105.00 price objective for the company. Finally, Zacks Investment Research upgraded Old Dominion Freight Line from a hold rating to a buy rating and set a $110.00 price objective for the company in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $103.75.
Old Dominion Freight Line (NASDAQ ODFL) opened at 107.48 on Thursday. The firm has a 50-day moving average price of $104.41 and a 200-day moving average price of $94.65. 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 $8.85 billion, a P/E ratio of 27.84 and a beta of 1.09.
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 for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.09. Old Dominion Freight Line had a return on equity of 16.87% and a net margin of 10.19%. The firm had revenue of $839.90 million during the quarter, compared to analysts’ expectations of $824.68 million. During the same quarter in the previous year, the business earned $0.98 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. Equities research analysts anticipate that Old Dominion Freight Line will post $4.15 EPS for the current fiscal year.
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The business 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 is presently 10.39%.
In other Old Dominion Freight Line 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 of the company’s stock, valued at $930,950.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Old Dominion Freight Line by 11,389.2% during the first quarter. BlackRock Inc. now owns 5,400,851 shares of the transportation company’s stock valued at $462,150,000 after purchasing an additional 5,353,843 shares during the period. Vanguard Group Inc. grew its holdings in Old Dominion Freight Line by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,372,428 shares of the transportation company’s stock valued at $511,669,000 after purchasing an additional 54,645 shares during the period. Janus Henderson Group PLC bought a new position in shares of Old Dominion Freight Line in the second quarter worth about $266,855,000. Janus Capital Management LLC boosted its stake in shares of Old Dominion Freight Line by 1.0% in the first quarter. Janus Capital Management LLC now owns 2,789,817 shares of the transportation company’s stock worth $238,725,000 after acquiring an additional 27,397 shares during the period. Finally, William Blair Investment Management LLC boosted its stake 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 acquiring an additional 191,911 shares during the period. 73.84% of the stock is owned by institutional investors and hedge funds.
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.
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