Old Dominion Freight Line Earns “Outperform” Rating from Credit Suisse (ODFL)
Old Dominion Freight Line (NASDAQ:ODFL)‘s stock had its “outperform” rating reissued by research analysts at Credit Suisse in a report released on Wednesday. They currently have a $74.00 price target on the stock, up from their previous price target of $70.00. Credit Suisse’s target price indicates a potential upside of 8.62% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Old Dominion Freight Line from $68.00 to $72.00 in a research note on Friday, August 1st. Separately, analysts at Morgan Stanley raised their price target on shares of Old Dominion Freight Line from $65.00 to $67.00 in a research note on Friday, August 1st. Finally, analysts at Deutsche Bank raised their price target on shares of Old Dominion Freight Line from $68.00 to $71.00 in a research note on Friday, August 1st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $65.44.
Old Dominion Freight Line (NASDAQ:ODFL) opened at 68.13 on Wednesday. Old Dominion Freight Line has a one year low of $43.64 and a one year high of $68.28. The stock’s 50-day moving average is $64.45 and its 200-day moving average is $60.48. The company has a market cap of $5.870 billion and a price-to-earnings ratio of 25.35. Old Dominion Freight Line also was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 860,743 shares, a growth of 53.4% from the July 31st total of 561,070 shares. Based on an average trading volume of 395,287 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.3% of the company’s stock are short sold.
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 $2.93 EPS for the current fiscal year.
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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