Old Dominion Freight Line Short Interest Up 53.4% in August (ODFL)
Shares of Old Dominion Freight Line (NASDAQ:ODFL) were the target of a large increase in short interest in August. As of August 15th, there was short interest totalling 860,743 shares, an increase of 53.4% from the July 31st total of 561,070 shares, American Banking & Market News reports. Based on an average daily volume of 395,287 shares, the days-to-cover ratio is presently 2.2 days. Approximately 1.3% of the company’s stock are sold short.
A number of research firms have recently commented on ODFL. 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 one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $64.38.
Old Dominion Freight Line (NASDAQ:ODFL) opened at 68.13 on Wednesday. Old Dominion Freight Line has a 52-week low of $43.64 and a 52-week 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 (NASDAQ:ODFL) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, analysts predict that Old Dominion Freight Line will post $2.93 earnings per share 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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