Old Dominion Freight Line Reaches New 52-Week High at $64.61 (ODFL)
Old Dominion Freight Line (NASDAQ:ODFL)’s share price reached a new 52-week high during mid-day trading on Friday , Analyst Ratings Network.com reports. The stock traded as high as $64.61 and last traded at $64.61, with a volume of 256,232 shares trading hands. The stock had previously closed at $63.99.
A number of research firms have recently commented on ODFL. Analysts at Deutsche Bank raised their price target on shares of Old Dominion Freight Line from $65.00 to $67.00 in a research note on Wednesday, May 28th. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Old Dominion Freight Line from $58.00 to $62.00 in a research note on Friday, April 25th. They now have a “market perform” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $54.25.
The stock’s 50-day moving average is $60.82 and its 200-day moving average is $55.41. The company has a market cap of $5.564 billion and a price-to-earnings ratio of 26.12. Old Dominion Freight Line also was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 726,761 shares, a decrease of 24.0% from the April 30th total of 956,580 shares. Based on an average trading volume of 571,003 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.1% of the company’s stock are sold short.
Old Dominion Freight Line (NASDAQ:ODFL) last announced its earnings results on Thursday, April 24th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.02. The company had revenue of $620.30 million for the quarter, compared to the consensus estimate of $596.24 million. During the same quarter last year, the company posted $0.47 earnings per share. Old Dominion Freight Line’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that Old Dominion Freight Line will post $2.83 EPS for the current fiscal year.
In other Old Dominion Freight Line news, Director John D. Kasarda purchased 1,582 shares of the stock on the open market in a transaction dated Wednesday, May 28th. The stock was purchased at an average cost of $63.21 per share, with a total value of $99,998.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Old Dominion Freight Line, Inc (NASDAQ:ODFL), incorporated on March 22, 1999, is a less-than-truckload (LTL) motor carrier providing regional, inter-regional and national LTL service and logistics services.
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