Analysts expect that Old Dominion Freight Line, Inc. (NASDAQ:ODFL) will post $1.03 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Old Dominion Freight Line’s earnings, with the highest sales estimate coming in at $1.04 billion and the lowest estimate coming in at $1.03 billion. Old Dominion Freight Line reported sales of $1.01 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The business is scheduled to issue its next earnings results on Thursday, February 4th.

According to Zacks, analysts expect that Old Dominion Freight Line will report full year sales of $3.98 billion for the current year, with estimates ranging from $3.96 billion to $3.99 billion. For the next year, analysts anticipate that the business will report sales of $4.46 billion, with estimates ranging from $4.34 billion to $4.64 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Old Dominion Freight Line.

Old Dominion Freight Line (NASDAQ:ODFL) last issued its earnings results on Tuesday, October 27th. The transportation company reported $1.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.20. Old Dominion Freight Line had a return on equity of 20.47% and a net margin of 15.87%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the business earned $2.05 earnings per share. The company’s revenue was up .9% compared to the same quarter last year.

ODFL has been the topic of a number of recent analyst reports. Bank of America raised their target price on Old Dominion Freight Line from $155.00 to $174.00 and gave the stock an “underperform” rating in a report on Thursday, October 15th. Stifel Nicolaus cut Old Dominion Freight Line from a “hold” rating to a “sell” rating and raised their target price for the stock from $123.00 to $156.00 in a report on Tuesday, August 25th. They noted that the move was a valuation call. Cowen raised their target price on Old Dominion Freight Line from $168.00 to $184.00 and gave the stock a “market perform” rating in a report on Friday, September 4th. Zacks Investment Research cut Old Dominion Freight Line from a “buy” rating to a “hold” rating and set a $209.00 target price on the stock. in a report on Tuesday, November 10th. Finally, KeyCorp raised their target price on Old Dominion Freight Line from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $187.25.

Shares of ODFL opened at $205.62 on Thursday. The company has a current ratio of 2.53, a quick ratio of 1.96 and a debt-to-equity ratio of 0.03. Old Dominion Freight Line has a 1 year low of $105.80 and a 1 year high of $213.66. The stock has a market cap of $24.13 billion, a P/E ratio of 39.02, a price-to-earnings-growth ratio of 2.33 and a beta of 1.10. The stock’s 50-day moving average price is $197.63 and its two-hundred day moving average price is $182.20.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Tuesday, December 1st. Old Dominion Freight Line’s dividend payout ratio is presently 11.74%.

In related news, Director Leo H. Suggs sold 4,500 shares of Old Dominion Freight Line stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $200.00, for a total value of $900,000.00. Following the sale, the director now owns 6,227 shares of the company’s stock, valued at approximately $1,245,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.70% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Northwest Investment Counselors LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $26,000. Clear Harbor Asset Management LLC acquired a new stake in Old Dominion Freight Line in the 3rd quarter valued at approximately $27,000. Berman Capital Advisors LLC raised its position in Old Dominion Freight Line by 61.9% in the 3rd quarter. Berman Capital Advisors LLC now owns 191 shares of the transportation company’s stock valued at $34,000 after buying an additional 73 shares during the last quarter. IFP Advisors Inc raised its position in Old Dominion Freight Line by 192.4% in the 2nd quarter. IFP Advisors Inc now owns 231 shares of the transportation company’s stock valued at $36,000 after buying an additional 152 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Old Dominion Freight Line by 60.8% during the 3rd quarter. CWM LLC now owns 201 shares of the transportation company’s stock worth $36,000 after purchasing an additional 76 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

About Old Dominion Freight Line

Old Dominion Freight Line, Inc operates as a less-than-truckload (LTL) motor carrier in the United States and North America. It provides regional, inter-regional, and national LTL services, including expedited transportation. The company also offers various value-added services, such as container drayage, truckload brokerage, and supply chain consulting.

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