Old Dominion Freight Line Rating Reiterated by Wunderlich (ODFL)
Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “hold” rating reiterated by analysts at Wunderlich in a research report issued to clients and investors on Friday. They currently have a $63.00 price target on the stock, up from their previous price target of $57.00. Wunderlich’s target price would indicate a potential downside of 0.99% from the company’s current price.
The analysts wrote, “Old Dominion (ODFL) posted a solid 2Q14 yesterday morning, as EPS of $0.86 beat the Street forecast of $0.82. Revenue of $703.0 million was likewise ahead of expectations. Old Dominion posted impressive 14.9% yr/yr tonnage growth, as the company continues to consolidate market share in the LTL market via a superior value proposition: on-time service remained at 99% and the cargo claims ratio was flat sequentially at 0.24%. “These metrics were achieved despite greater than expected headcount additions, particularly among dock workers. The elevated recruitment cost should be offset by enhanced productivity and modest yield growth, though we’d caution that the yield outlook is not as robust as that of some LTL peers. As a result, we maintain our Hold rating.”
Shares of Old Dominion Freight Line (NASDAQ:ODFL) opened at 63.63 on Friday. Old Dominion Freight Line has a 52-week low of $43.25 and a 52-week high of $65.35. The stock’s 50-day moving average is $62.92 and its 200-day moving average is $58.64. The company has a market cap of $5.483 billion and a price-to-earnings ratio of 25.91.
Old Dominion Freight Line (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.86 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.82 by $0.04. The company had revenue of $7.03 billion for the quarter, compared to the consensus estimate of $691.76 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. Analysts expect that Old Dominion Freight Line will post $2.87 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Robert W. Baird raised their price target on shares of Old Dominion Freight Line from $67.00 to $68.00 in a research note on Tuesday, July 8th. Separately, analysts at Zacks upgraded shares of Old Dominion Freight Line from a “neutral” rating to an “outperform” rating in a research note on Monday, July 7th. They now have a $67.70 price target on the stock. Finally, analysts at Deutsche Bank downgraded shares of Old Dominion Freight Line from a “buy” rating to a “hold” rating in a research note on Monday, July 7th. They now have a $68.00 price target on the stock, up previously from $67.00. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $64.74.
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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